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Business Strategy from Wharton

Competitive Advantage

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.

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

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

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

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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

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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

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Sharpen your ability to analyze industries by taking practice quizzes on key concepts.

Browse courses on Industry Analysis

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Find practice quizzes on industry analysis
Take the quizzes and review your answers

Read 'Competitive Strategy' by Michael Porter

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Gain insights into the concepts of competitive advantage and industry analysis by reading Michael Porter's seminal work on competitive strategy.

View HBR at 100: The Most Influential and Innovative... on Amazon

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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

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Join a Study Group to Discuss Case Studies

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Enhance your strategic thinking skills by discussing and analyzing real-world business case studies with peers.

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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

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Deepen your understanding of strategic planning and develop practical skills for creating effective strategies.

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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

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Advance your technical skills and gain practical experience by contributing to open-source software or tools related to strategic management.

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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

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Test your understanding of strategy development by creating a comprehensive strategic plan for an organization of your choice.

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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

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Improve your understanding of the course material by organizing and reviewing notes, assignments, and other resources.

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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.

See salaries and explore the career path for Corporate Strategist

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.

See salaries and explore the career path for Chief Executive Officer

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.

See salaries and explore the career path for Strategy Consultant

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.

See salaries and explore the career path for Product Manager

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.

See salaries and explore the career path for Consultant

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.

See salaries and explore the career path for Investment Analyst

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.

See salaries and explore the career path for Research Analyst

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.

See salaries and explore the career path for Marketing Manager

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.

See salaries and explore the career path for Project Manager

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.

See salaries and explore the career path for Sales Manager

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.

See salaries and explore the career path for Business Analyst

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.

See salaries and explore the career path for Entrepreneur

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.

See salaries and explore the career path for Chief Financial Officer

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.

See salaries and explore the career path for Venture Capitalist

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.

See salaries and explore the career path for Technology Analyst

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.

Competitive Strategy

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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.

Business Strategy from Wharton

Competitive Advantage

What you'll learn

Two deals to help you save

What's inside

Learning objectives

Syllabus

Good to know

Save this course

Activities

Career center

Reading list

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