What Will You Learn?

1. Vision & Mission:

   • Vision: The overarching goal or future state the company aims for.

   • Mission: The company’s purpose or reason for existence. It's usually more immediate and action-oriented.

2. Competitive Advantage:

   • What sets the business apart from competitors (e.g., lower costs, unique products, better service, innovation).

   • Porter’s Competitive Forces: Michael Porter, a strategic management guru, introduced frameworks for understanding competitive advantages (e.g., cost leadership, differentiation, focus strategy).

3. Market Positioning:

   • How the business positions itself relative to competitors. This can be through quality, price, or brand appeal.

4. Resource Allocation:

   • How the company allocates its resources (human, financial, physical) to achieve its strategy. This includes investments, hiring, product development, etc.

5. Goals & Objectives:

   • Short-term and long-term goals. SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) are often used in this context.

6. Risk Management:

   • Identifying potential risks (e.g., market changes, competition, economic shifts) and planning strategies to mitigate them.

About This Course