In this video, we’ll walk through how to create a business strategy using the Strategy Diamond model.
At the end of the video, we’ll look at an example of Ikea’s strategy to pull all the components of the model together.
You can read more about the Strategy Diamond here: https://goo.gl/5Zqoxb
On Udemy: https://www.udemy.com/user/365careers/
On Facebook: https://www.facebook.com/365careers/
On the web: http://www.365careers.com/
On Twitter: https://twitter.com/365careers
Subscribe to our channel: https://www.youtube.com/365careers
This lesson on Business strategy introduces the idea behind doing
Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo .
This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers.
The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours.
Strategy module table of contents:
MBA in a Box: Introduction
1. What does the course cover?
Strategy: An Introduction
2. The role of Strategy and what makes a Strategy successful
3. The difference between Corporate and Business Strategy
4. The importance of the Mission, Vision, Goals, and Values statements
Strategy: The industry lifecycle model
5. The four stages of the industry lifecycle model – An introduction
6. The strategic importance of the industry lifecycle model
7. The Introduction stage – A new industry is born
8. The Growth stage – An industry in its expansion phase
9. The Maturity stage – An industry at its peak
10. The Decline stage – An obsolete industry
Strategy: Porter’s Five Forces model – The competitive dynamics in an industry
11. Michael Porter’s Five Forces model
12. The threat of new entrants
13. The threat of substitute products
14. The intensity of current competition
15. The bargaining power of suppliers
16. The bargaining power of clients
17. Porter’s Five Forces framework applied in practice
Strategy: Game Theory – Studying the interaction between multiple parties
18. An introduction to Game Theory
19. Zero-sum games – approaching situations with a win-lose perspective
20. Non-zero-sum games – considering both cooperation and confrontation
21. Tobacco companies – a real-life example of Game Theory application
Strategy: Focusing on the inside of a business
22. Focusing on the inside of a business – An Introduction
23. A company’s lifecycle model – what should be done at different stages
Strategy: Acquiring a competitive advantage
24. The quest for a competitive advantage – An Introduction
25. The importance of building a sustainable competitive advantage
26. The role of resources and capabilities
27. Acquiring an actual competitive advantage
Strategy: The three main competitive strategies
28. The three main competitive strategies
29. Cost leadership – sell cheap
30. Differentiation – be different
31. Niche (Focus) strategy – find your niche market
32. The danger of hybrid strategies
Strategy: Corporate growth strategies
33. The types of growth opportunities companies pursue
34. Organic growth – building a solid foundation
35. Inorganic growth – leveraging M&A transactions
36. Horizontal integration
37. Vertical integration
Strategy: The SWOT analysis framework
38. An introduction to SWOT analysis
39. SWOT analysis in practice – Starbucks
Strategy analysis has two main branches – analysis of a firm’s external environment and analysis of a firm’s internal environment.
SWOT is a famous framework that allows us to combine the two types of analysis. SWOT is sometimes referred to as internal-external analysis. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
The first two, Strengths and Weaknesses, are related to a firm’s internal environment, while the last two, Opportunities and Threats, consider its external environment.
Internal strengths and external opportunities are vertically paired as helpful elements, while internal weaknesses and external threats are paired as harmful elements.
if we perform a company analysis, under strengths, we would expect to see its core competences, the areas where the business excels and has a competitive advantage over competitors.
Weaknesses are areas that need improvement. Such vulnerabilities place a company at a disadvantage when competing against other firms.
Opportunities can be seen as favorable factors existing in a company’s external environment, in the industry where it operates, and have the potential to improve its current results and competitive positioning.
Threats arise in a company’s external environment and might harm its current business.
Video Rating: / 5