Defining Exceptional Business Strategy for Entrepreneurs

Business strategy

Having clear and well-defined business strategy is extremely important for every starting company. It will set the course of the venture, making it easier for the founders and the startup employees to work towards leading the company in the right direction, closer to achieving the main objectives. The definition and development of the different types of business strategies – from general through growth to competitive strategies – is determining the overall direction of the enterprise through answering key questions, circumscribing main goals and elaborating clear execution plans.

Inexperienced entrepreneurs, who are starting their first company and are new to the whole process of setting up and growing a business, find it difficult to craft successful business strategy. It is understandable situation yet very unpleasant one. To help them learn more about the process of defining exceptional business strategy – from the foundations through the development of competitive strategy to strategic management, – here we’ve collected five courses from top universities that give useful insights on the topic.

Foundations of Business Strategy by University of Virginia

About the course as appeared on Coursera: “Develop your ability to think strategically, analyze the competitive environment, and recommend firm positioning and value creation. In this course, we will explore the underlying theory and frameworks that provide the foundations of a successful business strategy and provide the tools you need to understand that strategy: SWOT, Competitor, Environmental, Five Forces, and Capabilities Analyses, as well as Strategy Maps.”

Business Strategy by University of Illinois at Urbana-Champaign

About the course as appeared on Coursera: “In this course you will learn how organizations create, capture, and maintain value, and how it 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).”

Strategic Management by Copenhagen Business School

About the course as appeared on Coursera: “This course prepares you to think strategically in an age when companies like Apple, Google, and Microsoft have become more valuable (in market cap terms) than companies like Exxon. Today, business value and competitive advantage arise more often from consumer perceptions of what is “cool” than from physical assets or economies of scale.”

Competitive Strategy by Ludwig-Maximilians-Universität München (LMU)

About the course as appeared on Coursera: “In this six-module course, you will learn how businesses and organizations behave in situations in which strategic decisions are interdependent, i.e. where my actions affect my competitors’ profits and vice versa. Using the basic tools of game theory, we will analyse how businesses choose strategies to attain competitive advantage.”

Advanced Competitive Strategy by Ludwig-Maximilians-Universität München (LMU)

About the course as appeared on Coursera: “In Advanced Competitive Strategy, we will look at how companies can build up and maintain their customer base by increasing switching costs and facilitating strategic customer lock-ins. We will find out how firms can increase their profits by pursuing suitable price discrimination and product differentiation strategies.”

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