Strategic Management: From Intuition to Insight from edX

Learn how to design effective strategy processes and to spot fundamental market and technology changes in your industry. This foundational course enables you to analyze shifting industry structures and develop new capabilities in times of industry transition by covering different parts of strategy:

The Process of Strategy

What precisely is strategy and why does it matter?
What are the building blocks of strategy and how can they be arranged as a process?
What distinct conceptions of the strategy process co-exist and what are their advantages and disadvantages?

Analyzing Industry Structure

What is the role of the industry and its structure for firm performance?
How to unpack industries and identify the most attractive strategic positions to occupy therein?
How to identify what it takes to outcompete others in our strategic group?

Developing Internal Resources

Can firms succeed in generally unattractive industries?
How to find out which resources and capabilities are likely to have the greatest strategic value?
What are dynamic capabilities and how do they matter for firm survival and performance?

All key ideas from the online lectures are illustrated through a real-life case study on Tesla and its role in the technological transformation of the global automotive industry to help you better prepare for real-life situations in your company.

After completing this course you will improve your career qualifications as Business Development Manager , Sales Manager or Consultant. Professionals from the industries of the Automotive , IT , Finance , Health Car e, Telecommunication and the Energy sector have already completed the course.

This course is part of the "Managing Technology & Innovation: How to deal with disruptive change" MicroMasters program designed to teach the critical skills needed to be successful in this exciting field. In order to qualify for the MicroMasters Credential, you will need to earn a Verified Certificate in each of the six courses of the RWTHx MicroMasters program.

What's inside

Learning objectives

To understand key concepts and selected theories in strategic management
To identify the building blocks of strategy and arrange them in a cohesive process

How to analyze the (shifting) structure of your industry
Renew or extend internal resources and capabilities, especially in times of far-reaching technological changes

To understand key concepts and selected theories in strategic management
To identify the building blocks of strategy and arrange them in a cohesive process
How to analyze the (shifting) structure of your industry
Renew or extend internal resources and capabilities, especially in times of far-reaching technological changes

Syllabus

THEME 1: UNPACKING THE PROCESS OF STRATEGY

Week 1: Strategy Concept

Strategy Definitions : Understand the etymological origins of the concept and review key definitions.

Strategy Evolution : Explore the evolution of strategic thinking.

Week 2: Strategy Process

Strategy Models : Discuss the dominant perception of strategy process and its limitations.

Strategy Schools : Distinguish between a conception of strategy as design and of strategy as emergence.

THEME 2: ANALYZING INDUSTRY STRUCTURES

Week 3: Industry Analysis

Market-Based View : Learn about the theoretical foundations of the MBV and the process of industry analysis.

Five Forces : Review and apply Porter’s model of industry analysis.

Week 4: Strategic Group Analysis

Strategic Segmentation : Understand how to identify clusters of strategically similar firms within one industry.

Key Success Factors : Learn how to identify key success factors for strategic groups.

THEME 3: DEVELOPING INTERNAL RESOURCES

Week 5: Internal Resources

Resource-Based View : Learn about the theoretical foundations of the RBV and compare it to the MBV.

Resource Analysis : Become familiar with the way in which resources and capabilities can be analyzed. systematically.

Week 6: Dynamic Capabilities

Dynamic Capability View : Introduce and explicate the concept of dynamic capabilities and its value for strategic management.

Capability Development: Identify ways to strengthen sensing, seizing and reconfiguring capabilities.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops foundational knowledge to enable learners to effectively analyze and respond to industry transitions

Taught by instructors Torsten-Oliver Salge, an expert in the field

Covers comprehensive topics, from industry structure to capability development

Applicable to a wide range of fields and industries

Provides a real-life Tesla case study to illustrate concepts

May be relevant to learners in Automotive, IT, Finance, Healthcare, Telecommunication, or Energy industries

Reviews summary

Strategic management: understanding industry structure

According to students, Strategic Management: From Intuition to Insight is a course that analyzes the functions of public and private sector industries, empowering students to create industry maps and strategic plans to manage companies more effectively.

Focuses on industry analysis, helping learners understand the structure and functions of industries.

"In my review, this course will be able to emphasize and emprove my understanding on how to design the structure of industry and it's successful map road by identifying the disadvantages and advantages."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Strategic Management: From Intuition to Insight with these activities:

Review 'Strategy: A Logic of Action'

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Review key ideas in a classic and best selling strategy text serving as the theoretical backbone of the course.

View Interprofessional Perspectives for Community... on Amazon

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Identify the key concepts and principles of strategy.
Understand the role of analysis and decision-making in strategy formulation.
Evaluate the advantages and disadvantages of different strategic frameworks.

Practice Porter Five Forces Analysis

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Reinforce understanding of industry analysis through practical application of Porter's Five Forces framework.

Browse courses on Porter's Five Forces

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Select an industry for analysis.
Identify the five forces shaping the industry.
Assess the relative strength of each force.
Develop implications for strategic positioning.

Develop SWOT Analysis for a Chosen Industry

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Apply industry analysis concepts to develop a comprehensive SWOT analysis for a chosen industry, synthesizing insights from multiple sources.

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Conduct a thorough industry analysis.
Identify the key strengths, weaknesses, opportunities, and threats facing the industry.
Develop recommendations for strategic positioning based on the SWOT analysis.

Four other activities

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Tutorials on Dynamic Capabilities and Innovation

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Enhance understanding of dynamic capabilities and innovation through guided tutorials, exploring real-world examples and case studies.

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Review the concept of dynamic capabilities.
Explore the role of dynamic capabilities in innovation.
Identify strategies for developing dynamic capabilities within organizations.

Develop a Strategic Plan for a Startup

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Apply course concepts to the practical challenge of developing a strategic plan for a startup, integrating industry analysis, resource allocation, and innovation.

Browse courses on Strategic Planning

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Define the business opportunity and target market.
Conduct an industry analysis and competitive assessment.
Develop a value proposition and business model.
Outline a resource allocation plan.
Identify potential risks and develop mitigation strategies.

Volunteer at a Business Incubator

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Gain practical experience in strategy implementation by volunteering at a business incubator, interacting with entrepreneurs and startups.

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Assist entrepreneurs with business planning and strategy development.
Provide feedback on product development and marketing initiatives.
Attend networking events and workshops.

Workshop on Strategic Management for Nonprofits

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Expand knowledge of strategic management in the nonprofit sector through participation in a dedicated workshop.

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Learn about the unique challenges and opportunities faced by nonprofits.
Develop strategies for stakeholder engagement and fundraising.
Identify best practices for nonprofit governance and leadership.

Career center

Learners who complete Strategic Management: From Intuition to Insight will develop knowledge and skills that may be useful to these careers:

Strategy Consultant

Strategy Consultants are independent advisors who work with companies to develop and implement strategies. They help companies identify and analyze industry trends and competitors, and develop plans to achieve their business goals. To be successful, Strategy Consultants need to have a deep understanding of strategic management, including how to analyze industry structure and develop internal resources and capabilities. The "Strategic Management: From Intuition to Insight" course would be an excellent way for Strategy Consultants to build their knowledge and skills.

See salaries and explore the career path for Strategy Consultant

Business Development Manager

The Business Development Manager focuses on creating strategies to grow their company, expand market share, and build brand awareness. They are responsible for reaching out to potential clients to initiate new business relationships. To be successful, they need a deep understanding of business strategy, including industry analysis and developing internal resources and capabilities. The "Strategic Management: From Intuition to Insight" course will help Business Development Managers stay updated and informed on the best practices in strategic management so that they can make informed decisions.

See salaries and explore the career path for Business Development Manager

Product Manager

The Product Manager is responsible for a product's vision and strategy for its entire lifecycle. They work closely with engineering, marketing, and design to ensure that the product meets the needs of the market and is successful. To do this, they need to be able to analyze industry trends, identify market opportunities, and develop product strategies. The "Strategic Management: From Intuition to Insight" course will help Product Managers build the foundation they need to succeed in this role.

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Marketing Manager

Marketing Managers are responsible for developing and implementing marketing campaigns to promote their company's products or services. They work with creative teams to develop marketing materials and strategies. To be successful, Marketing Managers need to be able to analyze market trends and identify customer needs. The "Strategic Management: From Intuition to Insight" course would provide Marketing Managers with valuable insights into strategic management, which can be applied to their role in developing and implementing successful marketing campaigns.

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Financial Analyst

Financial Analysts analyze financial data to make recommendations on investments. They work with companies to help them make informed decisions about how to allocate their resources. To be successful, Financial Analysts need to have a strong understanding of financial markets and investment strategies. The "Strategic Management: From Intuition to Insight" course may be useful to Financial Analysts, as it would help them understand the strategic context of the companies they are analyzing.

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Investment Banker

Investment Bankers help companies raise capital and provide financial advice. They work with companies to develop and implement financial strategies. To be successful, Investment Bankers need to have a deep understanding of financial markets and investment strategies. The "Strategic Management: From Intuition to Insight" course may be useful to Investment Bankers, as it would help them understand the strategic context of the companies they are advising.

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Management Consultant

Management Consultants advise companies on how to improve their operations and performance. They work with companies to identify problems and develop solutions. To be successful, Management Consultants need to have a strong understanding of business strategy and operations. The "Strategic Management: From Intuition to Insight" course may be useful to Management Consultants, as it would help them build their knowledge of strategic management, which is essential for success in this role.

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Data Analyst

Data Analysts collect, clean, and analyze data to help companies make informed decisions. They work with data to identify trends and patterns. To be successful, Data Analysts need to have a strong understanding of data analysis techniques and statistical methods. The "Strategic Management: From Intuition to Insight" course may be useful to Data Analysts, as it would help them understand the strategic context of the data they are analyzing.

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Project Manager

Project Managers are responsible for planning, organizing, and executing projects. They work with teams to achieve project goals. To be successful, Project Managers need to have a strong understanding of project management methodologies and tools. The "Strategic Management: From Intuition to Insight" course may be useful to Project Managers, as it would help them understand the strategic context of the projects they are managing.

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Operations Manager

Operations Managers are responsible for overseeing the day-to-day operations of a company. They work with teams to ensure that processes are efficient and effective. To be successful, Operations Managers need to have a strong understanding of business operations and management techniques. The "Strategic Management: From Intuition to Insight" course may be useful to Operations Managers, as it would help them understand the strategic context of the operations they are managing.

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Marketing Research Analyst

Marketing Research Analysts conduct research to understand consumer behavior and trends. They work with companies to develop and implement marketing strategies. To be successful, Marketing Research Analysts need to have a strong understanding of research methods and statistical analysis. The "Strategic Management: From Intuition to Insight" course may be useful to Marketing Research Analysts, as it would help them understand the strategic context of the research they are conducting.

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Sales Manager

Sales Managers are responsible for leading and motivating sales teams to achieve sales goals. They work with customers to identify and meet their needs. To be successful, Sales Managers need to have a strong understanding of sales techniques and strategies. The "Strategic Management: From Intuition to Insight" course may be useful to Sales Managers, as it would help them understand the strategic context of the sales they are managing.

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Human Resources Manager

Human Resources Managers are responsible for managing the human resources of a company. They work with employees to ensure that they are engaged and productive. To be successful, Human Resources Managers need to have a strong understanding of human resources management practices and policies. The "Strategic Management: From Intuition to Insight" course may be useful to Human Resources Managers, as it would help them understand the strategic context of the human resources they are managing.

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Operations Research Analyst

Operations Research Analysts use mathematical and statistical techniques to solve business problems. They work with companies to improve operations and decision-making. To be successful, Operations Research Analysts need to have a strong understanding of mathematical and statistical methods. The "Strategic Management: From Intuition to Insight" course may be useful to Operations Research Analysts, as it would help them understand the strategic context of the problems they are solving.

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Information Technology Manager

Information Technology Managers are responsible for managing the information technology resources of a company. They work with teams to ensure that technology is used effectively and efficiently. To be successful, Information Technology Managers need to have a strong understanding of information technology and management techniques. The "Strategic Management: From Intuition to Insight" course may be useful to Information Technology Managers, as it would help them understand the strategic context of the technology they are managing.

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