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Nicolaj Siggelkow

Maintaining a competitive advantage takes more than great timing or a single solution. Sustainable advantage requires a well-designed and well-executed strategy. This course was created to give you the tools and frameworks you need to develop and execute a successful strategy.

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Maintaining a competitive advantage takes more than great timing or a single solution. Sustainable advantage requires a well-designed and well-executed strategy. This course was created to give you the tools and frameworks you need to develop and execute a successful strategy.

You’ll learn how to evaluate your own strategy, as well as how to locate sources of potential competitive advantage from a perspective that encompasses the internal, external, and dynamic fit of your strategy. You’ll also learn how to enhance your ability to assess the strategic impact of the moves of your competitors and how to maintain competitive advantage, understand the general drivers that create and sustain competitive advantage, and how to identify organizational barriers to change.

By the end of this course, you’ll be able to assess and redesign your current strategy and develop plans for effective implementation to give your firm a competitive advantage.

What you'll learn

  • Evaluate your strategic environment in the present and the future
  • Identify the differences between organizational effectiveness and strategic positioning
  • Map core and supporting activities of your firm and how they interact with each other
  • Locate organizational barriers to strategy implementation and organizational change
  • Engage in a strategic planning process that works

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What's inside

Learning objectives

  • Evaluate your strategic environment in the present and the future
  • Identify the differences between organizational effectiveness and strategic positioning
  • Map core and supporting activities of your firm and how they interact with each other
  • Locate organizational barriers to strategy implementation and organizational change
  • Engage in a strategic planning process that works

Syllabus

Module 1: Analyze your firm’s internal fit
What is strategy?
The difference between organizational effectiveness and strategy
The importance of tradeoffs
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The value chain
Interactions among strategic choices
Mapping your firm’s activity system
Module 2: Analyze your firm’s external fit
The concept of “value”
Industry analysis
Willingness-to-pay and cost drivers for different customer segments
Your value proposition
Strategic Positioning
Module 3: Maintaining your firm’s dynamic fit
The origins of your firm’s strategy
Drivers of strategy evolution
Barriers to organizational change (perception, knowledge, motivation, and coordination challenges)
Disruptive technological changes
Module 4: Creating new strategies and initiatives
Creating new strategic possibilities
Identifying conditions for success for each possibility
Designing empirical tests
Selecting strategic possibilities
Important shifts in mindsets

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Develops skills, knowledge, and tools that are core skills for executives and company leaders
Covers drivers of strategy evolution, which is a growing field in strategic management and organizational analysis
Provides frameworks for strategic planning that align with contemporary theory in the strategy field
Instructed by Nicolaj Siggelkow, author of the highly cited textbook “Strategic Management: A Competitive Advantage Approach"
Taught by a seasoned business instructor who has over 15 years of experience in management consulting and teaching

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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 Business Strategy from Wharton: Competitive Advantage with these activities:
Review Value Chain Analysis
Review the concept of value chain analysis to solidify your understanding of core and supporting activities and their interactions.
Browse courses on Value Chain Analysis
Show steps
  • Read an article or book chapter on value chain analysis
  • Draw a diagram of a value chain for a familiar industry
  • Identify the core and supporting activities in the value chain
  • Analyze how the activities interact with each other
Take Practice Quizzes on Industry Analysis
Sharpen your ability to analyze industries by taking practice quizzes on key concepts.
Browse courses on Industry Analysis
Show steps
  • Find practice quizzes on industry analysis
  • Take the quizzes and review your answers
Read 'Competitive Strategy' by Michael Porter
Gain insights into the concepts of competitive advantage and industry analysis by reading Michael Porter's seminal work on competitive strategy.
Show steps
  • Read the book and take notes on key concepts
  • Identify the different sources of competitive advantage
  • Analyze the five forces that shape industry competition
Five other activities
Expand to see all activities and additional details
Show all eight activities
Join a Study Group to Discuss Case Studies
Enhance your strategic thinking skills by discussing and analyzing real-world business case studies with peers.
Show steps
  • Form or join a study group with other students
  • Select business case studies that are relevant to the course
  • Discuss the case studies and share insights
Attend a Workshop on Strategic Planning
Deepen your understanding of strategic planning and develop practical skills for creating effective strategies.
Show steps
  • Register for a workshop on strategic planning
  • Attend the workshop and actively participate in discussions
  • Apply the concepts learned to your own organization
Contribute to Open-Source Projects Related to Strategic Management
Advance your technical skills and gain practical experience by contributing to open-source software or tools related to strategic management.
Show steps
  • Identify open-source projects that are relevant to strategic management
  • Contribute to the project by fixing bugs, writing documentation, or adding features
Develop a Strategic Plan for Your Organization
Test your understanding of strategy development by creating a comprehensive strategic plan for an organization of your choice.
Show steps
  • Define the organization's mission, vision, and values
  • Conduct an external and internal analysis
  • Identify strategic goals and objectives
  • Develop strategies to achieve the goals and objectives
  • Create an implementation plan
Create a Comprehensive Course Summary
Improve your understanding of the course material by organizing and reviewing notes, assignments, and other resources.
Show steps
  • Gather notes, assignments, and other course materials
  • Organize the materials into a single document or notebook
  • Summarize the key concepts and ideas from each module
  • Review the summary regularly to reinforce your learning

Career center

Learners who complete Business Strategy from Wharton: Competitive Advantage will develop knowledge and skills that may be useful to these careers:
Corporate Strategist
Corporate Strategists develop and implement long-term plans for businesses. They help businesses identify opportunities, develop new products and services, and enter new markets. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Corporate Strategist. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Chief Executive Officer
Chief Executive Officers (CEOs) are responsible for the overall success of their organizations. They develop and implement strategic plans, manage operations, and lead teams. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a CEO. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Strategy Consultant
Strategy Consultants help businesses develop and implement strategic plans. They advise on a wide range of topics such as growth strategy, market entry, and operational efficiency. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Strategy Consultant. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Product Manager
Product Managers develop and manage products and services. They are responsible for defining the product vision, conducting market research, and overseeing the product development process. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Product Manager. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Consultant
Consultants help businesses improve their performance and achieve their goals. They provide advice on a wide range of topics such as strategy, operations, marketing, and finance. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Consultant. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Investment Analyst
Investment Analysts make recommendations on which stocks, bonds, and other investments to buy and sell. They conduct research on companies and industries to assess their financial health and growth potential. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as an Investment Analyst. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Research Analyst
Research Analysts conduct research on companies, industries, and economic trends. They provide insights to investors, businesses, and governments. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Research Analyst. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Marketing Manager
Marketing Managers develop and execute marketing plans to promote products and services. They are responsible for developing brand strategies, advertising campaigns, and public relations initiatives. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Marketing Manager. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Project Manager
Project Managers plan and execute projects to achieve specific goals. They are responsible for managing project budgets, timelines, and resources. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Project Manager. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Sales Manager
Sales Managers develop and execute sales plans to achieve revenue goals. They are responsible for managing sales teams, developing sales strategies, and negotiating contracts. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Sales Manager. It will teach you how to assess and redesign your current strategy, develop plans for effective implementation, and give your firm a competitive advantage.
Business Analyst
Business Analysts negotiate the gap between business units and IT departments. They help translate business requirements into technical specifications that can be understood by software developers. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as a Business Analyst. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Entrepreneur
Entrepreneurs start and run their own businesses. They are responsible for developing business plans, raising capital, and managing employees. The course 'Business Strategy from Wharton: Competitive Advantage' can help you build a foundation for success as an Entrepreneur. It will teach you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Chief Financial Officer
Chief Financial Officers (CFOs) are responsible for the financial health of their organizations. They manage budgets, develop financial plans, and report to investors. The course 'Business Strategy from Wharton: Competitive Advantage' may be useful to you as a CFO because it teaches you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Venture Capitalist
Venture Capitalists invest in early-stage companies with high growth potential. They provide funding and mentorship to help these companies succeed. The course 'Business Strategy from Wharton: Competitive Advantage' may be useful to you as a Venture Capitalist because it teaches you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.
Technology Analyst
Technology Analysts conduct research on technology trends and products. They provide insights to investors, businesses, and governments. The course 'Business Strategy from Wharton: Competitive Advantage' may be useful to you as a Technology Analyst because it teaches you how to evaluate your firm's strategic environment, identify the differences between organizational effectiveness and strategic positioning, and map core and supporting activities of your firm and how they interact with each other.

Reading list

We've selected 15 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 Business Strategy from Wharton: Competitive Advantage.
Is considered a classic in the field of competitive strategy and provides a framework for analyzing industries and competitors. It is particularly useful for understanding the concepts of industry structure, competitive forces, and strategic positioning.
Provides a simple and clear framework for evaluating the quality of a strategy. It is particularly useful for identifying common pitfalls in strategy development and for developing strategies that are more likely to be successful.
Explores the phenomenon of disruptive innovation and how it can lead to the downfall of established companies. It is particularly useful for understanding the challenges of managing innovation in a rapidly changing environment.
Introduces the concept of blue ocean strategy, which way of creating new market space and making competition irrelevant. It is particularly useful for understanding how to differentiate your business from your competitors and create a sustainable competitive advantage.
Provides a practical guide to building a successful startup using the lean startup methodology. It is particularly useful for understanding how to test and validate your business ideas quickly and cheaply.
Provides a unique perspective on the future of technology and entrepreneurship. It is particularly useful for understanding how to build a successful startup in a rapidly changing world.
Provides a framework for marketing and selling technology products to mainstream customers. It is particularly useful for understanding the challenges of crossing the chasm between early adopters and mainstream customers.
Provides a comprehensive guide to building a successful startup. It is particularly useful for understanding the key steps involved in starting and growing a business.
This ancient Chinese military treatise provides insights into strategy and tactics that can be applied to business. It is particularly useful for understanding the importance of planning, deception, and flexibility.
Explores the characteristics of successful innovators. It is particularly useful for understanding how to develop the skills needed to be a successful innovator.
Provides an inside look at the consulting firm McKinsey & Company. It is particularly useful for understanding the firm's approach to problem solving and client service.

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