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Michael Lenox
and
Jared Harris
Advance your strategic analysis skills in this follow-up to Foundations of Business Strategy. In this course, developed at the Darden School of Business at the University of Virginia, you'll learn the tools to analyze strategy across time (competitive dynamics), industries (corporate strategy), geographies (international strategy), and institutions (non-market strategy). Top-ranked faculty will introduce the tools you need to complete a comprehensive evaluation and understand the strategy dynamics of an industry: Competitive Lifecycle, Internationalization and Stakeholder Analyses, and Diversification Matrices.
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What's inside
Syllabus
Dynamic Strategy
Studebaker, Remington, Sears, Kodak. Companies that were leaders in their time but failed to adapt to change. In this module, we'll explore the impact of disruptive innovations and how companies can navigate these changes, evolve over time, and avoid the pitfalls of the competitive life cycle. By the end of this module, you will be able to complete a competitive life cycle analysis. Let's get started.
Read more
Syllabus
Dynamic Strategy
Studebaker, Remington, Sears, Kodak. Companies that were leaders in their time but failed to adapt to change. In this module, we'll explore the impact of disruptive innovations and how companies can navigate these changes, evolve over time, and avoid the pitfalls of the competitive life cycle. By the end of this module, you will be able to complete a competitive life cycle analysis. Let's get started.
Read more
Traffic lights
Traffic lights
Read about what's good
what should give you pause and
possible dealbreakers
Introduces and develops core strategic analysis skills, which are indispensable for successful navigation through changing business environments
Taught by experienced faculty from the Darden School of Business at the University of Virginia, ensuring the transmission of industry-recognized knowledge
Covers vital concepts such as competitive dynamics, industry analysis, international strategy, diversification strategy, and stakeholder strategy, broadening learners' understanding of business strategy
Provides a framework for understanding how businesses can adapt to disruptive innovations and sustain their competitiveness over time
Explores the intricacies of international expansion and strategic entry into foreign markets, enhancing learners' global mindset
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Reviews summary
Advanced strategic frameworks
According to learners, this course provides a largely positive deep dive into advanced business strategy, building effectively on foundational knowledge. Students particularly appreciated the focus on key strategic frameworks such as the competitive lifecycle, internationalization analysis, diversification matrices, and stakeholder analysis, finding them to be useful tools for analysis. The instructors were often cited as knowledgeable and the case studies relevant. However, some learners found the course leaned too theoretical and wished for more practical application. There were also comments suggesting it assumes prior knowledge and might not offer sufficient depth for highly experienced professionals. A few mentioned that lectures could be dry or readings dense, pointing to a potential rift in engagement depending on learning style and background.
Lectures or readings may be dense for some.
"The course covers important topics, but sometimes the lectures were a bit dry."
"Solid overview of advanced strategy concepts... Some parts felt a bit rushed."
"Informative course... Some readings were quite dense."
May be more theoretical than practical.
"Expected more practical application. It's very theoretical and assumes a lot of prior business knowledge. Found it hard to follow at times."
"Okay course. Covered the basics of advanced topics but didn't go really deep. Better suited for someone early in their career than a seasoned professional."
"The course covers important topics, but sometimes the lectures were a bit dry... Felt like it could use more practical examples."
"Applied some concepts immediately at work."
Benefit from expert faculty insights.
"Fantastic course building on the foundations... Instructor was knowledgeable."
"Excellent course, provides deep insights into strategy dynamics."
"Really enjoyed the competitive dynamics module. The case studies used were relevant and helped illustrate the concepts."
Learn key strategic analysis tools.
"Excellent course, provides deep insights into strategy dynamics. The framework for internationalization was particularly useful. Highly recommend..."
"Solid overview of advanced strategy concepts. The modules on competitive lifecycle and diversification were well-structured."
"Good course, covers the syllabus topics well. The analysis tools presented are valuable."
"Really enjoyed the competitive dynamics module. The case studies used were relevant and helped illustrate the concepts."
"Diversification matrix was clearly explained."
Requires foundational business understanding.
"Expected more practical application... It's very theoretical and assumes a lot of prior business knowledge."
"Okay course... Better suited for someone early in their career than a seasoned professional."
"Didn't get much from this. It felt like a rehash of basic concepts... Not 'advanced' as advertised."
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 Advanced Business Strategy with these
activities:
Watch video tutorials on internationalization strategies
Show steps
Provides additional insights and real-world examples to enhance your understanding of internationalization concepts.
Show steps
-
Search for reputable video tutorials on internationalization strategies.
-
Watch and take notes on the key concepts presented.
-
Identify examples of companies that have successfully implemented internationalization strategies.
Complete practice questions on stakeholder analysis
Show steps
Strengthens your understanding of stakeholder identification, prioritization, and management techniques.
Browse courses on
Stakeholder Analysis
Show steps
-
Review the concepts of stakeholder analysis.
-
Identify stakeholders for a specific business scenario.
-
Prioritize stakeholders based on their influence and legitimacy.
-
Develop strategies to manage stakeholder relationships.
Create a presentation on the competitive lifecycle of a company
Show steps
Encourages you to synthesize your understanding of how companies evolve and adapt to changing market conditions.
Show steps
-
Identify a company that has experienced significant changes in its competitive environment.
-
Research the company's history, market dynamics, and key decision points.
-
Develop a timeline of the company's competitive lifecycle, highlighting major events and challenges.
-
Analyze the factors that have influenced the company's evolution.
-
Present your findings in a clear and engaging manner.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Review the book 'Strategy Traps' by Michael Porter
Show steps
Provides a comprehensive overview of the common pitfalls that companies fall into when making strategic decisions.
View
HBR's 10 Must Reads on Technology and Strategy...
on Amazon
Show steps
-
Read the introduction and chapters 1-3.
-
Identify the key concepts and frameworks presented in the book.
-
Summarize the main arguments and supporting evidence.
-
Discuss the implications of the book's findings for your own business strategy.
Develop a diversification matrix for a hypothetical company
Show steps
Provides practical experience in applying diversification concepts to assess a company's potential growth opportunities.
Browse courses on
Corporate Strategy
Show steps
-
Identify a hypothetical company and its current business portfolio.
-
Conduct a market analysis to identify potential new markets and products.
-
Evaluate each potential diversification option using the diversification matrix.
-
Recommend a diversification strategy for the company based on your analysis.
Conduct an industry analysis for a company of your choice
Show steps
Allows you to apply the concepts learned in the course to a real-world scenario, enhancing your understanding of industry dynamics.
Browse courses on
Industry Analysis
Show steps
-
Choose a company and define the industry it operates in.
-
Gather data on the industry using sources such as industry reports, company filings, and news articles.
-
Analyze the industry using Porter's Five Forces framework.
-
Identify potential opportunities and threats for the chosen company.
-
Develop recommendations for the company's strategy based on your analysis.
Attend a workshop on disruptive innovation
Show steps
Offers the opportunity to engage with experts and learn from case studies, fostering a deeper understanding of disruptive innovation.
Browse courses on
Disruptive Innovation
Show steps
-
Research and identify relevant workshops on disruptive innovation.
-
Register for and attend the workshop.
-
Actively participate in discussions and networking opportunities.
-
Reflect on the key takeaways and apply them to your own business context.
Mentor a junior student in business strategy
Show steps
Reinforces your own knowledge while helping others grasp the core concepts of business strategy.
Browse courses on
Business Strategy
Show steps
-
Identify a junior student who is interested in business strategy.
-
Meet with the student regularly to discuss course material and provide guidance.
-
Share your experiences and insights to help the student develop their analytical skills.
-
Provide feedback on the student's assignments and projects.
Watch video tutorials on internationalization strategies
Show steps
Provides additional insights and real-world examples to enhance your understanding of internationalization concepts.
Show steps
Show steps
Show steps
- Search for reputable video tutorials on internationalization strategies.
- Watch and take notes on the key concepts presented.
- Identify examples of companies that have successfully implemented internationalization strategies.
Complete practice questions on stakeholder analysis
Show steps
Strengthens your understanding of stakeholder identification, prioritization, and management techniques.
Browse courses on
Stakeholder Analysis
Show steps
Show steps
Show steps
- Review the concepts of stakeholder analysis.
- Identify stakeholders for a specific business scenario.
- Prioritize stakeholders based on their influence and legitimacy.
- Develop strategies to manage stakeholder relationships.
Create a presentation on the competitive lifecycle of a company
Show steps
Encourages you to synthesize your understanding of how companies evolve and adapt to changing market conditions.
Show steps
Show steps
Show steps
- Identify a company that has experienced significant changes in its competitive environment.
- Research the company's history, market dynamics, and key decision points.
- Develop a timeline of the company's competitive lifecycle, highlighting major events and challenges.
- Analyze the factors that have influenced the company's evolution.
- Present your findings in a clear and engaging manner.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Review the book 'Strategy Traps' by Michael Porter
Show steps
Provides a comprehensive overview of the common pitfalls that companies fall into when making strategic decisions.
View
HBR's 10 Must Reads on Technology and Strategy...
on Amazon
Show steps
Show steps
Show steps
- Read the introduction and chapters 1-3.
- Identify the key concepts and frameworks presented in the book.
- Summarize the main arguments and supporting evidence.
- Discuss the implications of the book's findings for your own business strategy.
Develop a diversification matrix for a hypothetical company
Show steps
Provides practical experience in applying diversification concepts to assess a company's potential growth opportunities.
Browse courses on
Corporate Strategy
Show steps
Show steps
Show steps
- Identify a hypothetical company and its current business portfolio.
- Conduct a market analysis to identify potential new markets and products.
- Evaluate each potential diversification option using the diversification matrix.
- Recommend a diversification strategy for the company based on your analysis.
Conduct an industry analysis for a company of your choice
Show steps
Allows you to apply the concepts learned in the course to a real-world scenario, enhancing your understanding of industry dynamics.
Browse courses on
Industry Analysis
Show steps
Show steps
Show steps
- Choose a company and define the industry it operates in.
- Gather data on the industry using sources such as industry reports, company filings, and news articles.
- Analyze the industry using Porter's Five Forces framework.
- Identify potential opportunities and threats for the chosen company.
- Develop recommendations for the company's strategy based on your analysis.
Attend a workshop on disruptive innovation
Show steps
Offers the opportunity to engage with experts and learn from case studies, fostering a deeper understanding of disruptive innovation.
Browse courses on
Disruptive Innovation
Show steps
Show steps
Show steps
- Research and identify relevant workshops on disruptive innovation.
- Register for and attend the workshop.
- Actively participate in discussions and networking opportunities.
- Reflect on the key takeaways and apply them to your own business context.
Mentor a junior student in business strategy
Show steps
Reinforces your own knowledge while helping others grasp the core concepts of business strategy.
Browse courses on
Business Strategy
Show steps
Show steps
Show steps
- Identify a junior student who is interested in business strategy.
- Meet with the student regularly to discuss course material and provide guidance.
- Share your experiences and insights to help the student develop their analytical skills.
- Provide feedback on the student's assignments and projects.
Career center
Learners who complete Advanced Business Strategy will develop knowledge and skills
that may be useful to these careers:
Corporate Strategy Manager
Corporate Strategy Manager
Corporate strategy managers develop and implement long-term strategies for their companies. They need to have a strong understanding of business strategy and financial analysis. The Advanced Business Strategy course can help corporate strategy managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help corporate strategy managers make sound strategic decisions and help their companies achieve their goals.
Investment Banker
Investment Banker
Investment bankers help companies raise capital and advise them on mergers and acquisitions. They need to have a strong understanding of business strategy and financial analysis. The Advanced Business Strategy course can help investment bankers develop the skills they need to succeed in their careers. The course covers topics such as financial statement analysis, valuation, and capital budgeting. This knowledge can help investment bankers make sound investment decisions and provide valuable advice to their clients.
Product Manager
Product Manager
Product managers develop and manage products for their companies. They need to have a strong understanding of business strategy and marketing. The Advanced Business Strategy course can help product managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help product managers develop products that meet the needs of customers and help their companies achieve their goals.
Business Development Manager
Business Development Manager
Business development managers identify and develop new business opportunities for their companies. They need to have a strong understanding of business strategy and marketing. The Advanced Business Strategy course can help business development managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help business development managers identify and develop new business opportunities that will help their companies grow.
Private Equity Investor
Private Equity Investor
Private equity investors invest in private companies and help them grow. They need to have a strong understanding of business strategy and financial analysis. The Advanced Business Strategy course can help private equity investors develop the skills they need to succeed in their careers. The course covers topics such as financial statement analysis, valuation, and capital budgeting. This knowledge can help private equity investors make sound investment decisions and help the companies they invest in grow.
Marketing Manager
Marketing Manager
Marketing managers develop and implement marketing campaigns for their companies. They need to have a strong understanding of business strategy and marketing. The Advanced Business Strategy course can help marketing managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help marketing managers develop marketing campaigns that will reach the right customers and help their companies achieve their goals.
Consultant
Consultant
Consultants advise organizations on how to improve their performance. They may work in a variety of fields, including business strategy, information technology, and human resources. The Advanced Business Strategy course can help consultants develop the skills they need to analyze complex business problems and develop effective solutions. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help consultants provide valuable insights to their clients and help them make better decisions.
Business Consultant
Business Consultant
Business consultants provide advice to businesses on how to improve their performance. They need to have a strong understanding of business strategy and a variety of business disciplines. The Advanced Business Strategy course may help business consultants develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help business consultants provide valuable advice to their clients and help them make better decisions.
Entrepreneur
Entrepreneur
Entrepreneurs start and run their own businesses. They need to have a strong understanding of business strategy and a variety of business disciplines. The Advanced Business Strategy course may help entrepreneurs develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help entrepreneurs develop business strategies that will help their businesses grow.
Sales Manager
Sales Manager
Sales managers lead and motivate sales teams. They need to have a strong understanding of business strategy and sales management. The Advanced Business Strategy course may help sales managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help sales managers develop sales strategies that will help their teams achieve their goals.
Financial Analyst
Financial Analyst
Financial analysts provide financial advice to individuals and businesses. They need to have a strong understanding of business strategy and financial analysis. The Advanced Business Strategy course may help financial analysts develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help financial analysts provide sound financial advice to their clients.
Policy Analyst
Policy Analyst
Policy analysts develop and evaluate policies for governments and other organizations. They need to have a strong understanding of business strategy and public policy. The Advanced Business Strategy course may help policy analysts develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help policy analysts develop policies that will achieve their desired outcomes.
Nonprofit Manager
Nonprofit Manager
Nonprofit managers lead and manage nonprofit organizations. They need to have a strong understanding of business strategy and nonprofit management. The Advanced Business Strategy course may help nonprofit managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help nonprofit managers develop strategies that will help their organizations achieve their goals.
Researcher
Researcher
Researchers conduct research on a variety of topics. They need to have a strong understanding of research methods and business strategy. The Advanced Business Strategy course may help researchers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help researchers design and conduct research studies that will produce valuable insights.
Operations Manager
Operations Manager
Operations managers oversee the day-to-day operations of their companies. They need to have a strong understanding of business strategy and operations management. The Advanced Business Strategy course may help operations managers develop the skills they need to succeed in their careers. The course covers topics such as competitive analysis, industry analysis, and corporate strategy. This knowledge can help operations managers develop operations strategies that will help their companies achieve their goals.
For more career information including salaries, visit:
OpenCourser.com/course/b8slas/advanced
Reading list
We've selected 11 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
Advanced Business Strategy.
Save
Provides a comprehensive framework for analyzing industries and competitors. It classic work in the field of competitive strategy and is highly relevant to the course's focus on competitive dynamics.
Save
Provides a clear and concise guide to developing good strategies. It is essential reading for anyone who wants to understand how to create a successful business.
Explores the challenges that established companies face when disruptive technologies emerge. It valuable read for understanding the competitive lifecycle and how companies can adapt to change.
Provides a comprehensive overview of global strategy. It covers the key concepts and frameworks for understanding the challenges and opportunities of competing in international markets.
Provides a practical guide to diversification strategy. It helps readers understand the different types of diversification and how to assess their potential benefits and risks.
Provides a practical guide to using the lean startup methodology to develop and launch new products and services. It is essential reading for anyone who wants to learn how to build a successful business in the 21st century.
Save
Provides a comprehensive overview of stakeholder management. It covers the key concepts, frameworks, and tools for understanding and managing the interests of different stakeholders.
Provides a comprehensive overview of the strategies and challenges of doing business in a global marketplace. It is essential reading for anyone who wants to understand how to succeed in international business.
Save
Provides a comprehensive overview of corporate strategy, with a focus on the resource-based view of the firm. It is essential reading for anyone who wants to understand how to create and sustain a competitive advantage.
Save
Provides a behind-the-scenes look at the McKinsey & Company consulting process. It is essential reading for anyone who wants to learn how to think like a top strategic consultant.
Provides a unique perspective on strategy, with a focus on game theory and negotiation. It is essential reading for anyone who wants to learn how to think strategically in a competitive environment.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/b8slas/advanced
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Effort
4 weeks of study, 2-6 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
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Ελληνικά
українська мова
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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
- Business Growth Strategy
- Strategic Planning and Execution
- Business Strategy in Practice (Project-centered Course)
- Advanced Business Strategy (viewing)
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