Business Strategy from Coursera

In this course you will learn how organizations create, capture, and maintain value. In doing so, you’ll develop an understanding of how and why this process is fundamental for sustainable competitive advantage. You will be able to better understand value creation, and capture and learn the tools to analyze both competition and cooperation from a variety of perspectives, including the industry-level (e.g., five forces analysis) and the firm-level (e.g., business models and strategic positioning).

You will be able to:

- Understand how managers coordinate different functional areas, resources, and systems inside a company and align them with the external environment to enhance overall performance

- Recognize strategic management tools and frameworks and apply them to real business contexts

- Process diverse business and industry information to diagnose strategic issues, evaluate strategic alternatives, and formulate a coherent and actionable strategic plan

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

What's inside

Syllabus

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

Module 1: Leading Strategically

The Leading Strategically module will lay the foundation of business strategy course. You will learn about mission, vision and values and their role in overall strategy landscape. You will learn about the VARS framework for analyzing business models and SWOT framework for understanding the fit and coherence of business strategy.

Module 2: External Analysis

The Environmental Analysis module will focus on a key aspect of business strategy – analyzing and understanding the external environment of a firm. You will learn about the macro-environment of firms and the PESTEL framework for macro-environmental analysis. You will also learn about firms’ industry environment and understand how to predict industry profitability by using the 5-forces framework.

Module 3: Internal Analysis and Competitive Advantage

The module on Internal Analysis and Competitive Advantage will provide an in-depth understanding of the origins of unique company strengths and how they can produce a competitive advantage. You will learn about the origins and consequences of fundamental internal differences among firms using the analytical viewpoints of activities, resources, and capabilities. You will be introduced to the strategic tools of value chains, value networks, and the V-R-I framework to help you analyze the implications of these within-firm differences for (sustained) competitive advantage.

Module 4: Strategic Positioning and Strategic Renewal

The Strategic Positioning and Strategic Renewal module brings together the internal and external aspects of strategic analysis to formulate an overall strategy for the firm. You will learn about the two main “generic strategies” that businesses can pursue, which can be complemented by broad or narrow scope to yield four key types of strategic positioning. You will also learn about “dual” strategies and why and how a firm's strategy must be adapted to strategically renew its positioning.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores foundational concepts in business strategy and enables strategic thinking

Taught by instructors Deepak Somaya, who are recognized in the field of business strategy

Suitable for beginners seeking a comprehensive foundation in business strategy

Emphasizes real-world business contexts and case studies

Provides a holistic understanding of internal and external factors influencing business strategy

Requires students to engage in critical thinking and analysis of business scenarios

Reviews summary

Business strategy: a practical guide

Learners say this course offers engaging assignments, excellent lectures, and valuable knowledge on business strategy. Instructor Deepak Somaya is knowledgeable and uses real-world examples to illustrate concepts. The course covers a wide range of topics, including competitive advantage, strategic analysis, and business models. Students appreciate the opportunity to interact with industry executives and complete case studies. Overall, this course is highly recommended for anyone looking to gain a deeper understanding of business strategy.

Students have the opportunity to interact with industry executives, gaining insights from professionals in the field.

"The expert interviews were excellent source of info on strategy in practice."

Assignments, such as case studies, are engaging and help reinforce the concepts learned in the lectures.

"The case studies were many and sometimes a bit demanding but they have helped reinforced the newly acquired knowledge."

While the course can be challenging at times, students find it rewarding and say they learn a great deal.

"This is a little difficult course. My advice to others who are taking this course to have some extra time to understand what is being taught. But the knowledge that you gain from this course is very valuable and can be applied to any business environment."

The course covers a wide range of topics, providing a comprehensive overview of business strategy.

"Its my honour to review the course, it was excellent I had undergone with very good experience from this course the things i learned from this course are how sets the strategies for the business, and frame a business model by VARS frame work how the companies create competitive advantages by means of incorporating dual or integrated strategy and external analysis by means of real time examples of the companies like UBER, STARBUCKS etc, concept explanation by means different examples of the companies and also interaction with industry executives, all these helped me to have analytical skill and operations and strategy of companies"

The course uses real-world examples to illustrate concepts, making them more relatable and understandable.

"Concept explanation by means different examples of the companies and also interaction with industry executives, all these helped me to have analytical skill and operations and strategy of companies"

Professor Somaya's lectures are clear, concise, and engaging.

"The lectures are so simplified to enable you have a good grasp of the subject matter, and e.g's given, for case studies resonate with your day to day activities."

Professor Somaya is an expert in business strategy and his passion for the subject is evident in his lectures.

"Professor Somaya shows a well developped understanding of strategy and mastership in the way of teaching it."

Some students felt that the course content was outdated and did not reflect current best practices in business strategy.

"Overall great course! Perhaps make sense to update some aspects as it has been 7 years now since the course was created which is a significant period in our fast paced world."

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 with these activities:

Review Financial Analysis Techniques

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Strengthens your ability to analyze financial statements and make informed business decisions.

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Review key financial ratios and their implications
Practice analyzing financial statements using real-world examples

Practice SWOT Analysis

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Develops your ability to identify and analyze the internal and external factors that affect your business.

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List your company's strengths
List your company's weaknesses
Identify opportunities for your business
Identify threats to your business

Read "Good Strategy/Bad Strategy"

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Provides a clear and concise framework for developing and evaluating effective strategies.

View The Crux: How Leaders Become Strategists on Amazon

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Read the book "Good Strategy/Bad Strategy"
Identify examples of good and bad strategies in your own experience

Six other activities

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Review Porter's Five Forces

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Provides a structured framework for analyzing the forces that shape industry competition and profitability.

View Competitive Strategy: Techniques for Analyzing... on Amazon

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Read Chapter 3 of Porter's book "Competitive Strategy"
Identify and describe the five forces in your industry
Assess the strength and impact of each force
Draw implications for your own business strategy

Develop a Value Proposition Canvas

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Helps you articulate your value proposition and understand how it aligns with customer needs.

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Identify your customer segments
Define the customer's needs and pain points
Develop your value proposition
Map your value proposition to customer needs

Build a Strategy Resource Toolkit

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Compiles valuable resources and tools to support your strategy development and execution.

Browse courses on Strategy

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Identify and gather relevant resources and tools
Organize the resources and tools in a central location
Reference and utilize the toolkit throughout your strategic planning process

Facilitate a Peer Discussion on Strategic Management

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Encourages active engagement with the course material and provides diverse perspectives on strategic management.

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Prepare discussion questions based on the course material
Organize and facilitate a peer discussion group
Summarize the key takeaways from the discussion

Explore the Blue Ocean Strategy Framework

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Expands your understanding of how to create and capture new market space.

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Watch the Blue Ocean Strategy introductory video
Read a summary of the Blue Ocean Strategy book
Apply the Blue Ocean Strategy framework to your own business

Attend a Workshop on Strategic Planning

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Provides hands-on experience in developing a strategic plan for your business.

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Research and identify relevant strategic planning workshops
Register for and attend the workshop
Apply the workshop learnings to your own strategic planning process

Career center

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

Business Analyst

As a Business Analyst, you will be responsible for analyzing business processes and developing solutions to improve efficiency and effectiveness. The Business Strategy course will provide you with the skills and knowledge you need to understand how businesses operate and how to create and implement strategies that will help them achieve their goals. You will learn about the different types of business models, how to conduct market research, and how to develop and evaluate strategic plans. This course will give you the foundation you need to be successful in a career as a Business Analyst.

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Consultant

As a Consultant, you will work with businesses to help them solve problems and improve their performance. The Business Strategy course will provide you with the skills and knowledge you need to understand the challenges that businesses face and how to develop and implement solutions that will help them achieve their goals. You will learn about the different types of consulting services, how to conduct research, and how to develop and deliver presentations. This course will give you the foundation you need to be successful in a career as a Consultant.

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Entrepreneur

As an Entrepreneur, you will be responsible for starting and running your own business. The Business Strategy course will provide you with the skills and knowledge you need to understand the different aspects of starting and running a business. You will learn about the different types of businesses, how to develop a business plan, and how to market and sell your products or services. This course will give you the foundation you need to be successful in a career as an Entrepreneur.

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Financial Analyst

As a Financial Analyst, you will be responsible for analyzing financial data and making recommendations to businesses. The Business Strategy course will provide you with the skills and knowledge you need to understand financial statements, how to conduct financial analysis, and how to develop and evaluate investment recommendations. This course will give you the foundation you need to be successful in a career as a Financial Analyst.

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Investment Banker

As an Investment Banker, you will be responsible for advising businesses on mergers and acquisitions, initial public offerings, and other financial transactions. The Business Strategy course will provide you with the skills and knowledge you need to understand the different types of financial transactions, how to conduct financial analysis, and how to develop and evaluate investment recommendations. This course will give you the foundation you need to be successful in a career as an Investment Banker.

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Marketer

As a Marketer, you will be responsible for developing and implementing marketing campaigns that will help businesses reach their target audiences. The Business Strategy course will provide you with the skills and knowledge you need to understand the different types of marketing channels, how to conduct market research, and how to develop and evaluate marketing campaigns. This course will give you the foundation you need to be successful in a career as a Marketer.

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Product Manager

As a Product Manager, you will be responsible for developing and managing products that meet the needs of customers. The Business Strategy course will provide you with the skills and knowledge you need to understand the different stages of the product development process, how to conduct market research, and how to develop and evaluate product launches. This course will give you the foundation you need to be successful in a career as a Product Manager.

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Project Manager

As a Project Manager, you will be responsible for planning, executing, and closing projects that will help businesses achieve their goals. The Business Strategy course will provide you with the skills and knowledge you need to understand the different phases of the project management process, how to develop and manage project plans, and how to track and evaluate project progress. This course will give you the foundation you need to be successful in a career as a Project Manager.

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Sales Manager

As a Sales Manager, you will be responsible for leading and managing a team of sales professionals who are responsible for selling products or services to customers. The Business Strategy course will provide you with the skills and knowledge you need to understand the different types of sales channels, how to develop and manage sales teams, and how to develop and execute sales strategies. This course will give you the foundation you need to be successful in a career as a Sales Manager.

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Operations Manager

As an Operations Manager, you will be responsible for planning, executing, and controlling the activities of a business's operations function. The Business Strategy course will provide you with the skills and knowledge you need to understand the different aspects of operations management, how to develop and implement operations plans, and how to measure and evaluate operations performance. This course will give you the foundation you need to be successful in a career as an Operations Manager.

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Human Resources Manager

As a Human Resources Manager, you will be responsible for planning, directing, and coordinating the activities of a business's human resources function. The Business Strategy course will provide you with the skills and knowledge you need to understand the different aspects of human resources management, how to develop and implement human resources policies, and how to manage and evaluate human resources programs. This course will give you the foundation you need to be successful in a career as a Human Resources Manager.

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Information Technology Manager

As an Information Technology Manager, you will be responsible for planning, directing, and coordinating the activities of a business's information technology function. The Business Strategy course will provide you with the skills and knowledge you need to understand the different aspects of information technology management, how to develop and implement information technology plans, and how to manage and evaluate information technology resources. This course will give you the foundation you need to be successful in a career as an Information Technology Manager.

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Supply Chain Manager

As a Supply Chain Manager, you will be responsible for planning, directing, and coordinating the activities of a business's supply chain. The Business Strategy course will provide you with the skills and knowledge you need to understand the different aspects of supply chain management, how to develop and implement supply chain plans, and how to manage and evaluate supply chain performance. This course will give you the foundation you need to be successful in a career as a Supply Chain Manager.

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Financial Planner

As a Financial Planner, you will help individuals and families manage their finances. The Business Strategy course may help you understand the different aspects of financial planning, how to develop and implement financial plans, and how to manage and evaluate financial performance. This course may give you the foundation you need to be successful in a career as a Financial Planner.

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Real Estate Agent

As a Real Estate Agent, you will help people buy and sell real estate. The Business Strategy course may help you understand the different aspects of real estate, how to develop and implement real estate marketing plans, and how to manage and evaluate real estate investments. This course may give you the foundation you need to be successful in a career as a Real Estate Agent.

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