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Michelle Welfare

In this step you'll learn about business strategies and how to develop one. A business strategy provides the guiding principles for many organizational decisions, such as hiring new employees or developing new products. It helps to define the methods and tactics needed to take within a company and provides a framework for management. It is important to understand the difference between a business strategy and a mission statement. A business strategy consists of a vision, objectives, core values, SWOT analysis, tactics and operational delivery, resources and resource allocation, and measurement and analysis. It is important to create a business strategy to share the organizational vision and goals with employees and create a common thread across a business. The steps to build a business strategy include defining a vision, setting objectives, analyzing the business and marketplace, defining a competitive advantage, and building a framework. To measure the success of a business strategy, Key Performance Indicators should be defined.

What is a Business Strategy? And How to Develop One!

David Halliday

In this step, you'll learn about Michael Porter's article 'What is Strategy'. Porter discusses the critical elements of competitive advantage by looking at three core business strategies and two follow-up topics. These three strategies are industry position trade-offs, activity fit, and straddling. Through examples, Porter explains how to create a unique and valuable industry position, ensure product differentiation by making trade-offs, and ensure fit among firm activities. Lastly, he also covers operational effectiveness and straddling to provide a full understanding of business strategy.

Michael Porter's What is Strategy? Full Summary [Hipster Edition]

Leadershipskills.co

Mission, vision, values, strategies and goals

The Accounting Channel

In this step you'll learn about strategic planning, which forms the first video in the series about performance management. Strategic planning has three levels: strategic, tactical, and operational. The extent to which the company is observed varies between these levels, as well as the level of detail and sources of information. Additionally, the PEST and Porter's Five Forces models are discussed to help assess the business."

Strategic Planning Models

Business School 101

In this step, you'll learn about the PESTLE Analysis, a tool used by managers to analyze and monitor the macro environmental factors that have an impact on an organization, company, or industry. PESTLE stands for Political, Economic, Social, Technological, Environmental, and Legal factors. By running a PESTLE Analysis regularly and responding to changes, managers can keep their strategies fluid and current. This tool is especially useful when starting a new business or entering a new market.

External Analysis: PESTEL Framework | Strategic Management

In this video, Jimmy will be looking at how to perform an industry analysis using Porter's Five Forces, using Tesla as an example. He will discuss each of the five steps in Porter's Five Forces and the threat level for each of the forces. The goal of the analysis is to understand the process and the future of the company. After the analysis, Jimmy recommends a video about the Eight Steps to analyzing a company for analysis.

Pestle analysis is a strategic management tool used to assess the external environment affecting a business. It enables businesses to create a strategy to limit these impacts. This video explains all six pestle factors in common areas within those that businesses need to consider. These factors include political, economic, social, technological, legal and environmental. Each factor has a link to Amazon and what areas this massively successful business needs to consider.

In this video we're talking all about SWOT analysis, which is a key part of any business and strategic plan. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT diagram analyzes a project or business venture by focusing on each of these factors. It is used to identify the parts of your business that are doing well, weaknesses that put you at a disadvantage, opportunities to help your business grow, and threats to your business. By clearly outlining all positives and negatives of a project, SWOT analysis makes it easier to decide how to move forward.

In this lesson, the goal is to apply the SWOT framework in practice by examining Starbucks. The company has strong brand recognition and offers a differentiated product to customers. However, it offers the same product in all countries and has a premium price policy which can be an issue for some customers. Additionally, Starbucks has the opportunity to access new countries and partner with movie producing companies. The biggest threat is the saturation of the American market.

In this step, you'll learn about Porter's five forces a strategy framework. It was published in 1979 by Michael Porter and argued that competition is often viewed too narrowly. The five forces include rivalry among existing competitors, threat of new entrants, threat of substitute products or services, bargaining power of suppliers, and bargaining power of buyers. The main purpose of this model is to evaluate the root causes of profitability in an industry, and it can be used to come up with strategic actions to protect a company's profitability in the long term.

The Boston Consulting Group developed the Boston Matrix in the early 1970s. It is a tool for clarifying how resources are best spent on the company's products to achieve the highest revenue. The model is a part of a portfolio analysis, which means analyzing the company's products. The Boston Matrix consists of two dimensions, relative market share on the x-axis and market growth in percentage on the y-axis. It is used to classify business units or products into four different categories: question marks, stars, cash cows, and dogs. The positions of the company's products are marked with a circle, the size of which depends on how much revenue is in the business area in relation to the company's total revenue.

BCG matrix is a planning tool designed by Boston Consulting Group to analyze a company's product portfolio. It consists of four quadrants: Star, Question Mark, Cash Cow, and Dog. These quadrants are measured on the basis of market growth and market share. Samsung's products such as laptops, mobile phones, tablets, television, and Smart bands can be used as an example to understand BCG matrix. The quadrants can help to determine which products need more investment, research, or should be discontinued, as well as which products generate the most revenue.

In this tutorial, we will look at Michael Porter's renowned Diamond Model which helps us understand why certain nations are more competitive than others for certain types of industries. The Diamond Model consists of four factors: Firm Strategy, Structure and Rivalry, Demand Conditions, Related and Supporting Industries, and Factor Conditions. Additionally, two supporting factors, the role of government and chance, influence the four factors. The Diamond Model can be used to understand the source of a nation's competitive advantage and to formulate strategies for investing and operating in different markets.

This lesson is about the McKinsey 7s framework, a strategic planning tool designed to help an organization understand if it is set up in a way that allows it to achieve its objectives. It was developed by McKinsey & Company in the 1980s and consists of 7 elements: Strategy, Structure, Systems, Style, Staff, Skills and Shared Values. It can help an organization understand how to get from where it is now to where it wants to be and how to take into account the impacts of any changes.

In this video, Mikhail explains the McKinsey 7s Framework and applies it to the Tesla Company. The Framework consists of seven internal key factors that assess the well-being and future success of a company. These factors include three hard elements - Strategy, Structure and Systems - and four soft elements - Style, Staff, Skills and Shared Values. Tesla's Strategy is clearly defined and communicated, and their Structure is flat and team-oriented. Their Systems are largely departmental, and their Shared Values promote innovation and creativity. Lastly, their Style is Transformational Leadership, Staff is hired both internally and externally, and Skills are promoted through training and workshops.

In this step you'll learn about Nord in Nine Sismondo and Wi fi di Organization Joint Bid I. Nord in Nine Sismondo is a cost reality tool used to grow with hydrogen in puyol e snejder. Wi fi di Organization Joint Bid I is a way to describe how an organization is growing and seeking in the world. It also helps to create an organizational structure that is efficient and productive with the help of creativity entrepreneurs and effective management.

Blue Ocean Strategy by authors W Chan Kim and Rene Mille Bornes is a book that teaches readers how to create an uncontested market space. The book explains that if you try to enter an established market like the fast food market with the hopes of outperforming the competition, you are adopting what the authors call a red ocean strategy. To find blue oceans of opportunity, the book suggests adjusting for levers such as eliminating, reducing, raising, and creating. Casella wines is an example of a business that used the blue ocean strategy to create a new category of wine that would become the best-selling wine in Australian and United States history. 5-hour energy is another example of a business that created the new energy drink market of two Allen's bottles and maintained a 93% market share. The core message of the book is to stop focusing on how to beat the competition and start focusing on how to make the competition irrelevant.

In Part V) Unconventional (Dirty) War, you'll learn about tactics to outsmart your opponent and win the war quickly. These tactics include weaving a seamless blend of fact and fiction, losing small battles to win the war, controlling the dynamic, taking small bites, creating a threatening presence, defeating the enemy in detail, exposing and attacking the enemy's soft flank, and seeming to work for the interests of others while furthering your own. Part III) Defensive Warfare teaches you to pick your battles, know your enemy, trade space for time, overwhelm resistance with speed and suddenness, segment your forces, pick your battles, and avoid the snare of groupthink. Part I) Self-Directed Warfare teaches you to declare war on your enemies, outsmart the opponent, transform your war into a crusade, and avoid the snare of groupthink. Part II) Organizational (Team) Warfare teaches you to avoid the snare of groupthink and know your enemy.

In this step you'll learn about Good Strategy and Bad Strategy. Good Strategy is about identifying critical factors in a situation plus the skillfully designed coordinated actions to deal with set factors. Bad Strategy is about fluff, failing to recognize or define the challenge, mistaking goals as actual strategy and providing poor strategic objectives.

- What is strategy?
- What are the different strategy models?
- PESTEL, Five forces, SWOT, BCG models
- Blue ocean strategy
- Good strategy, bad strategy

	#	Type	Title	Creator	Platform	Duration
	1		What is a Business Strategy? And How to Develop One!	Michelle Welfare	imd.org	15m
	What you'll learn in this step:
	2		Michael Porter's What is Strategy? Full Summary [Hipster Edition]	David Halliday	youtube.com	12m
	What you'll learn in this step:
	3		Mission, vision, values, strategies and goals	Leadershipskills.co	youtube.com	29m
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	4		Strategic Planning Models	The Accounting Channel	youtube.com	10m
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	5		External Analysis: PESTEL Framework \| Strategic Management	Business School 101	youtube.com	14m
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Business Strategy Fundamental

Anna Bergmann

Business strategist

@annabergmann