Strategy Formulation from Coursera

The purpose of this course is to present, analyze and discuss the different facets of business strategy formulation. Emphasizing that strategy can be seen as a unified theme that provides coherence and direction to the actions and decisions of a firm, we will cover a variety of business strategy topics concerned with firm positioning in the context of different markets, industries and locations.

At the end of the course, you will be able to:

- Identify why a strong strategy is essential for the future business success

- Formulate a business strategy that suits the needs and visions of your organization

- Explain why managers too often formulate sub-optimal strategies

- Extrapolate measures to optimize current business strategies

Workload: 2-4 hours per week.

What's inside

Syllabus

Introducing strategy formulation

In the first module of this course, we will examine and discuss the foundations of strategy formulation, emphasizing key concepts such as competitive advantage, value creation, planned vs emerging strategy, and strategic fit.

Industry analysis

Building on the insights generated in the first session, in the second module we explore different industrial organization frameworks and discuss the importance of industry effects on firm performance. Keywords of this module include competition, industry attractiveness, and the ‘Five forces’-framework.

Resources and capabilities

The purpose of this session is to understand the role of firm resources and capabilities in building and formulating a strong strategy. In particular, we will discuss concepts such as the value chain, core capabilities, heterogeneous resources, and the VRIO framework.

Global strategies and the multinational corporation

The opportunities and challenges of operating internationally are substantially different to the domestic context. Thus, to understand strategy in a global context, we focus on the multinational corporation and discuss strategic terms like foreign entry mode, location strategies, global integration/local adaptation, and distance.

Strategic decision making

In this module, we will investigate the processes of strategic decision making and explore how this matters for firm performance. We will discuss topics such as ‘bounded rationality’, management politics, and hidden costs.

Formulating a Strategy in a 21st Century Creative Company

Drawing on the content covered in this course, your job is to formulate a strategy for the Danish design company e-Types. Specifically, based on an analysis of the firm and the environment, you should formulate a strong strategy for how e-Types should move forward. Background information on the company and the assignment is provided below.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Taught by Marcus Møller Larsen, who are recognized for their work in strategy formulation for firms

Covers multiple facets of business strategy formulation, building a strong understanding

Develops a firm foundation in strategic decision making, which is essential in today's business environment

May help learners identify opportunities and challenges in a global context, empowering them to navigate the complexities of international business

Requires students to have a solid understanding of business concepts and practices

May not be suitable for complete beginners in business strategy

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Career center

Learners who complete Strategy Formulation will develop knowledge and skills that may be useful to these careers:

Strategy Consultant

A Strategy Consultant is responsible for providing advice and guidance to organizations on strategy development and implementation. A course in Strategy Formulation may be useful for this role by providing a comprehensive understanding of the different facets of business strategy formulation. This course may also help prepare an individual to analyze business situations and goals with the objective of optimizing a business strategy.

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Corporate Strategist

A Corporate Strategist is responsible for developing and implementing long-term strategies for an organization. This role typically requires an MBA and several years of experience in business strategy. A course in Strategy Formulation may be useful for this role by providing a comprehensive understanding of the different facets of business strategy formulation. This course may help prepare an individual to analyze business situations and goals with the objective of optimizing a business strategy.

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Management Consultant

A Management Consultant is responsible for providing advice and guidance to organizations on a variety of management issues. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and management principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Sales Manager

A Sales Manager is responsible for leading a team of salespeople and achieving sales goals. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and sales management principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Product Manager

A Product Manager is responsible for managing the development and launch of new products. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and product management principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Technology Consultant

A Technology Consultant is responsible for providing advice and guidance to organizations on technology-related issues. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and technology consulting principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Financial Analyst

A Financial Analyst is responsible for providing financial advice and guidance to clients. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and financial analysis. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Risk Manager

A Risk Manager is responsible for identifying, assessing, and mitigating risks. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and risk management principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Venture Capitalist

A Venture Capitalist is responsible for investing in early-stage companies. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and venture capital principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Market Research Analyst

A Market Research Analyst is responsible for conducting market research and providing insights to clients. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and market research techniques. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Systems Analyst

A Systems Analyst is responsible for analyzing and designing computer systems. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and systems analysis principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Project Manager

A Project Manager is responsible for planning, executing, and closing projects. A course in Strategy Formulation may be useful for this role by providing a solid understanding of business strategy and project management principles. This understanding helps analyze business situations and goals with the objective of optimizing a business strategy.

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Consultant

A Consultant is responsible for providing expert advice and knowledge to organizations or individuals on a specific subject matter. A course in Strategy Formulation may be useful for this role by providing a comprehensive understanding of the different facets of business strategy formulation. This course may help prepare an individual to analyze business situations and goals with the objective of optimizing a business strategy.

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Business Analyst

A Business Analyst defines and documents business processes, information technology systems, and other business-related processes. This role typically requires an advanced degree, and a course in Strategy Formulation may help build a foundation in analyzing business situations and goals with the objective of optimizing a business strategy. Strategy Formulation may be helpful for this role.

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