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Michael Lenox
and
Jared Harris
Develop your ability to think strategically, analyze the competitive environment, and recommend firm positioning and value creation. In this course, developed at the Darden School of Business at the University of Virginia, top-ranked faculty will help you explore the underlying theory and frameworks that provide the foundations of a successful business strategy and provide the tools you need to understand that strategy: SWOT, Competitor, Environmental, Five Forces, and Capabilities Analyses, as well as Strategy Maps.
Register for this course and see more details by visiting:
OpenCourser.com/course/5qlekb/foundations
What's inside
Syllabus
Introduction to Strategic Analysis
Welcome to the first module in the Foundations course. In this module, we'll discuss the meaning and importance of business strategy to an organization's competitive positioning. You'll learn about strategic analysis and the SWOT, competitor, and environmental analysis tools. Have fun building your strategy skillset!
Read more
Syllabus
Introduction to Strategic Analysis
Welcome to the first module in the Foundations course. In this module, we'll discuss the meaning and importance of business strategy to an organization's competitive positioning. You'll learn about strategic analysis and the SWOT, competitor, and environmental analysis tools. Have fun building your strategy skillset!
Read more
Analyzing Industry Structure
Hello and welcome back. In this module, we'll explore how to assess an industry's structure and how the competitive dynamics in an industry affect profitability. We'll go into depth with the five forces tool, a common and highly influential analytical framework. Happy analyzing!
Analyzing Firm Capabilities
Welcome! In this module, we'll examine the tangible and intangible assets that form an organization's strength. We'll show you in depth how to complete a capabilities analysis and how to use this analysis to guide decision making. Happy analyzing!
Determining Competitive Position
Welcome to the final module. In these lessons, we'll explore firms' competitive positioning relative to rivals and analyze the advantages and disadvantages of four generic competitive positions firms occupy. We'll use an easy and intuitive tool--strategy maps--to visually communicate information about firm positioning, and discuss which position is best for a particular firm to see maximum value. Happy analyzing!
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Explores analytical tools, such as SWOT, Competitor, Environmental, Five Forces, and Capabilities Analyses, which are standard in business management
Taught by Michael Lenox and Jared Harris, who are recognized for their work in business strategy
Examines industry structure and competitive dynamics, which is highly relevant to business management
Develops competitive positioning skills, which are core skills for business managers
Shares strategy maps as a visual tool for communicating information about firm positioning
Save this course
Save Foundations of Business Strategy to your list so you can find it easily later:
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Reviews summary
Well received intro to business strategy
Learners say this course is a well-received introduction to business strategy, especially for complete beginners. The course provides a basic tool-set to help analyze competitive positioning within an industry, and introduces a set of visual tools that may be helpful in a presentation at a management level. The course is led by an experienced lecturer with superior teaching skills, and assignments are relatively easy. While the lectures are clear and succinct, some students felt they lacked depth. Additionally, despite touching on interesting topics from macroeconomics, the course does not go into enough detail.
Lectures are clear and succinct.
"The lectures are clear, succinct, short, but lack depth."
""
""
Assignments are relatively easy.
"The only assignments that needed to ber turned in before the final project were (relatively easy) weekly quizzes that covered the lecture topics."
""
""
Provides useful visual tools for presentations.
"The course gives a basic tool-set for analysis of competitive positioning of a firm."
"It introduces a nice set of fairly visual tools which might be helpful for a presentation at management level."
""
Led by an experienced lecturer with superior teaching skills.
"Experienced lecturer!"
"The superior teaching skills of Professor Michael Lenox has made the course even more attractive to the students."
""
Perfect course for those new to the field.
"Michael Lenox of UVA’s Darden School of Business puts together a very basic business strategy course for students who have no experience in the field at all."
"But I believe that was Lenox’s intention, as the course was designed for people with no background, and it is perfect for them."
"It's a very nice course to start with, It might seem too easy for those with more knowledge in the subject, but I think that it's a very good start for those of us that just started exploring the Business subject."
Some students found that lectures lacked depth.
""
"The lectures are clear, succinct, short, but lack depth."
""
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 Foundations of Business Strategy with these
activities:
Review fundamental concepts of economics
Show steps
Review foundational economic principles and concepts to enhance your understanding of business strategy.
Browse courses on
Economics
Show steps
-
Read introductory textbooks or articles on microeconomics
-
Complete practice problems and exercises to test your understanding
Compile a toolkit of strategic analysis tools and frameworks
Show steps
Gather and organize a collection of valuable tools and frameworks to enhance your strategic thinking and decision-making abilities.
Browse courses on
Frameworks
Show steps
-
Research and identify relevant tools and frameworks
-
Create a digital or physical repository for the compilation
-
Include clear explanations and examples for each tool and framework
Read 'Good Strategy/Bad Strategy' by Richard Rumelt
Show steps
Gain insights into the principles of effective strategy formulation and execution to enhance your decision-making abilities.
View
The Crux: How Leaders Become Strategists
on Amazon
Show steps
-
Read the book thoroughly and take notes
-
Identify and analyze the key concepts and frameworks presented in the book
-
Apply the principles to real-world business scenarios
Five other activities
Expand to see all activities and additional details
Show all eight activities
Explore case studies of successful business strategies
Show steps
Analyze real-world examples of effective business strategies to gain practical insights and enhance your decision-making abilities.
Browse courses on
Case Studies
Show steps
-
Select case studies from reputable sources such as Harvard Business Review or McKinsey
-
Read the cases thoroughly and identify the key strategic decisions made
-
Evaluate the outcomes of the strategies and discuss the factors that contributed to their success or failure
Engage in group discussions on industry trends
Show steps
Collaborate with peers to exchange insights on emerging industry trends, enabling you to stay updated and make informed strategic decisions.
Browse courses on
Industry Trends
Show steps
-
Form study groups with classmates
-
Choose a specific industry or sector to focus on
-
Research and present key trends and developments in the chosen industry
-
Facilitate group discussions to analyze the implications of these trends on business strategies
Develop a SWOT analysis for a chosen company
Show steps
Conduct a comprehensive SWOT analysis to assess a company's strengths, weaknesses, opportunities, and threats, honing your analytical and strategic thinking skills.
Browse courses on
SWOT Analysis
Show steps
-
Select a company of interest
-
Gather data on the company's internal and external environment
-
Identify and categorize the company's strengths, weaknesses, opportunities, and threats
-
Develop recommendations based on the SWOT analysis findings
Attend industry conferences or workshops
Show steps
Participate in industry events to connect with professionals, stay updated on trends, and expand your knowledge base.
Browse courses on
Networking
Show steps
-
Research and identify relevant industry conferences or workshops
-
Register and attend the selected events
-
Network with professionals and experts in the field
-
Participate in discussions and presentations to gain insights
Contribute to open-source projects related to business strategy
Show steps
Engage in hands-on application of strategic analysis concepts by contributing to open-source projects, further developing your skills and contributing to the broader community.
Show steps
-
Identify open-source projects that align with your interests in business strategy
-
Participate in discussions and code development
-
Contribute to the project by developing new features or improving existing ones
Review fundamental concepts of economics
Show steps
Review foundational economic principles and concepts to enhance your understanding of business strategy.
Browse courses on
Economics
Show steps
Show steps
Show steps
- Read introductory textbooks or articles on microeconomics
- Complete practice problems and exercises to test your understanding
Compile a toolkit of strategic analysis tools and frameworks
Show steps
Gather and organize a collection of valuable tools and frameworks to enhance your strategic thinking and decision-making abilities.
Browse courses on
Frameworks
Show steps
Show steps
Show steps
- Research and identify relevant tools and frameworks
- Create a digital or physical repository for the compilation
- Include clear explanations and examples for each tool and framework
Read 'Good Strategy/Bad Strategy' by Richard Rumelt
Show steps
Gain insights into the principles of effective strategy formulation and execution to enhance your decision-making abilities.
View
The Crux: How Leaders Become Strategists
on Amazon
Show steps
Show steps
Show steps
- Read the book thoroughly and take notes
- Identify and analyze the key concepts and frameworks presented in the book
- Apply the principles to real-world business scenarios
Five other activities
Expand to see all activities and additional details
Show all eight activities
Explore case studies of successful business strategies
Show steps
Analyze real-world examples of effective business strategies to gain practical insights and enhance your decision-making abilities.
Browse courses on
Case Studies
Show steps
Show steps
Show steps
- Select case studies from reputable sources such as Harvard Business Review or McKinsey
- Read the cases thoroughly and identify the key strategic decisions made
- Evaluate the outcomes of the strategies and discuss the factors that contributed to their success or failure
Engage in group discussions on industry trends
Show steps
Collaborate with peers to exchange insights on emerging industry trends, enabling you to stay updated and make informed strategic decisions.
Browse courses on
Industry Trends
Show steps
Show steps
Show steps
- Form study groups with classmates
- Choose a specific industry or sector to focus on
- Research and present key trends and developments in the chosen industry
- Facilitate group discussions to analyze the implications of these trends on business strategies
Develop a SWOT analysis for a chosen company
Show steps
Conduct a comprehensive SWOT analysis to assess a company's strengths, weaknesses, opportunities, and threats, honing your analytical and strategic thinking skills.
Browse courses on
SWOT Analysis
Show steps
Show steps
Show steps
- Select a company of interest
- Gather data on the company's internal and external environment
- Identify and categorize the company's strengths, weaknesses, opportunities, and threats
- Develop recommendations based on the SWOT analysis findings
Attend industry conferences or workshops
Show steps
Participate in industry events to connect with professionals, stay updated on trends, and expand your knowledge base.
Browse courses on
Networking
Show steps
Show steps
Show steps
- Research and identify relevant industry conferences or workshops
- Register and attend the selected events
- Network with professionals and experts in the field
- Participate in discussions and presentations to gain insights
Contribute to open-source projects related to business strategy
Show steps
Engage in hands-on application of strategic analysis concepts by contributing to open-source projects, further developing your skills and contributing to the broader community.
Show steps
Show steps
Show steps
- Identify open-source projects that align with your interests in business strategy
- Participate in discussions and code development
- Contribute to the project by developing new features or improving existing ones
Career center
Learners who complete Foundations of Business Strategy will develop knowledge and skills
that may be useful to these careers:
Consultant
Consultant
Consultants help organizations improve their performance. They analyze problems, develop solutions, and implement change. This course can help you develop the skills you need to be a successful consultant, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as project management and financial analysis, which are essential for consultants.
Manager
Manager
Managers plan, organize, and lead teams to achieve organizational goals. This course can help you develop the skills you need to be a successful manager, including the ability to think strategically, make decisions, and motivate others. The course also covers topics such as budgeting, human resources, and marketing, which are essential for managers.
Business Analyst
Business Analyst
Business analysts help organizations improve their business processes. They analyze problems, develop solutions, and implement change. This course can help you develop the skills you need to be a successful business analyst, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as process improvement, data analysis, and project management, which are essential for business analysts.
Product Manager
Product Manager
Product managers are responsible for the development and launch of new products. This course can help you develop the skills you need to be a successful product manager, including the ability to think strategically, analyze market data, and develop product roadmaps. The course also covers topics such as product design, customer research, and marketing, which are essential for product managers.
Strategy Analyst
Strategy Analyst
Strategy analysts help organizations develop and implement their strategies. This course can help you develop the skills you need to be a successful strategy analyst, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as financial analysis, industry analysis, and competitive analysis, which are essential for strategy analysts.
Corporate Development Manager
Corporate Development Manager
Corporate development managers are responsible for mergers and acquisitions, joint ventures, and other strategic transactions. This course can help you develop the skills you need to be a successful corporate development manager, including the ability to think strategically, analyze data, and negotiate effectively. The course also covers topics such as financial analysis, legal issues, and tax implications, which are essential for corporate development managers.
Marketing Manager
Marketing Manager
Marketing managers are responsible for developing and executing marketing campaigns. This course can help you develop the skills you need to be a successful marketing manager, including the ability to think strategically, analyze market data, and develop marketing plans. The course also covers topics such as advertising, public relations, and digital marketing, which are essential for marketing managers.
Market Researcher
Market Researcher
Market researchers study consumer behavior and market trends. This course can help you develop the skills you need to be a successful market researcher, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as survey design, data analysis, and market segmentation, which are essential for market researchers.
Finance Manager
Finance Manager
Finance managers are responsible for the financial health of an organization. They develop and implement financial plans, manage budgets, and analyze financial data. This course can help you develop the skills you need to be a successful finance manager, including the ability to think strategically, analyze data, and make decisions. The course also covers topics such as accounting, financial planning, and risk management, which are essential for finance managers.
Operations Manager
Operations Manager
Operations managers are responsible for the day-to-day operations of an organization. They plan, organize, and direct the activities of employees to ensure that the organization meets its goals. This course can help you develop the skills you need to be a successful operations manager, including the ability to think strategically, analyze data, and make decisions. The course also covers topics such as production planning, inventory management, and quality control, which are essential for operations managers.
Project Manager
Project Manager
Project managers plan, organize, and execute projects to achieve specific goals. This course can help you develop the skills you need to be a successful project manager, including the ability to think strategically, analyze data, and manage resources. The course also covers topics such as project planning, risk management, and stakeholder management, which are essential for project managers.
Sales Manager
Sales Manager
Sales managers are responsible for leading and motivating sales teams to achieve revenue targets. This course can help you develop the skills you need to be a successful sales manager, including the ability to think strategically, analyze data, and motivate others. The course also covers topics such as sales planning, customer relationship management, and negotiation, which are essential for sales managers.
Research Analyst
Research Analyst
Research analysts study market trends, industry dynamics, and economic data to make recommendations to clients. This course can help you develop the skills you need to be a successful research analyst, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as financial modeling, valuation, and portfolio management, which are essential for research analysts.
Management Consultant
Management Consultant
Management consultants help organizations improve their performance by providing advice on strategy, operations, and technology. This course can help you develop the skills you need to be a successful management consultant, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as project management, financial analysis, and organizational development, which are essential for management consultants.
Data Analyst
Data Analyst
Data analysts collect, analyze, and interpret data to help organizations make informed decisions. This course can help you develop the skills you need to be a successful data analyst, including the ability to think strategically, analyze data, and communicate effectively. The course also covers topics such as statistics, data mining, and data visualization, which are essential for data analysts.
For more career information including salaries, visit:
OpenCourser.com/course/5qlekb/foundations
Reading list
We've selected six books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Foundations of Business Strategy.
Save
This classic work by Michael Porter, a renowned expert in business strategy, introduces the Five Forces framework for industry analysis and provides valuable insights into competitive positioning and value creation. It must-read for anyone interested in understanding the fundamentals of business strategy.
Save
By Richard Rumelt, a leading strategy consultant, emphasizes the importance of developing good strategies and provides a framework for evaluating and improving strategic plans. It complements the course's focus on strategy analysis and formulation.
This influential book by Clayton Christensen explores the challenges faced by established companies in responding to disruptive technologies and provides insights into how to avoid the 'innovator's dilemma.' It complements the course's discussion of industry analysis and competitive positioning.
Save
By W. Chan Kim and Renée Mauborgne introduces the concept of 'blue ocean strategy,' which focuses on creating new markets and avoiding direct competition. It provides practical tools for identifying and exploiting untapped opportunities.
Save
'Strategy Safari' is an accessible and engaging introduction to strategic management. It provides a comprehensive overview of different strategy frameworks and approaches, complementing the course's focus on strategy analysis and formulation.
Discusses the principles of 'lean startup' methodology, emphasizing the importance of experimentation, iteration, and validation in developing successful business strategies. It provides valuable insights for entrepreneurs and startups.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/5qlekb/foundations
Share
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Effort
4 weeks of study, 2-5 hours/week
Level
Introductory
Via
Coursera
Institution
University of Virginia
Instructors
Michael Lenox
Jared Harris
Language
English
Transcripts
Español
Français
Português
Deutsch
Italiano
中文
العربية
한국어
日本語
हिंदी
Nederlands
Svenska
Pусский
Türkçe
Polski
Ελληνικά
українська мова
magyar nyelv
Bahasa Indonesia
ไทย
қазақша
اُردُو,
فارسی
বাংলা
tiếng Việt
پښتو
آذربایجان دیلی
This course belongs to a
collection
called
Business Strategy. It's comprised of five courses:
- Foundations of Business Strategy (viewing)
- Business Growth Strategy
- Strategic Planning and Execution
- Business Strategy in Practice (Project-centered Course)
- Advanced Business Strategy
Good to know
Explores analytical tools, such as SWOT, Competitor, Environmental, Five Forces, and Capabilities Analyses, which are standard in business management
Taught by Michael Lenox and Jared Harris, who are recognized for their work in business strategy
Examines industry structure and competitive dynamics, which is highly relevant to business management
Develops competitive positioning skills, which are core skills for business managers
Shares strategy maps as a visual tool for communicating information about firm positioning
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