Business Analysis, Decision Making and Developing a Strategy

Effective strategic analysis, strategic decision-making and translating those decisions into a strategy that can be communicated and planned is essential to the future success of any organization. In this programme you will learn how to:

• Focus on core tools for strategic analysis and how to use them effectively to make strategic decisions
• Develop a strategy that can guide your firm into the future.
• Examine best practice models from other industries and also apply the techniques learned in their own industries

Objective:

• Understand and apply a range of tools available for strategic analysis
• Analyse the competitive environment and your firm’s position in it
• Understand the resources and competences involved in different bases of competitive advantage
• Analyse the core competences and basis of competitive advantage of your firm
• Understand and apply the tools available for developing strategic options
• Understand the characteristics of good strategic decision making
• Understand common traps involved in strategic decision making that lead to failure
• Bring strategic analysis and decision making together into a strategy for your firm
• Broaden strategic analysis and decision-making skills through considering a range of case examples outside your industry and applying the concepts in your own firm.

Course Outline

Contents:

Day 1 - Analysing the competitive environment and firm positioning

• Introduction to environmental analysis tools – PESTLE, Five forces analysis, Industry life cycle analysis and Strategic group analysis
• Identifying trends affecting an industry
• Identifying the state of competition within an industry, the key competitors, and the key competitive positions
• Identifying key success factors in an industry
• Case study analysis applying these concepts
• Applying these concepts to your firm

Day 2 - Analysing the resources and competences underlying competitive advantage

• Introduction to organizational analysis tools – Resource auditing,
  Core competences, Value chain analysis
• Mapping how organizational resources and competences strengthen or detract from a firm’s competitive position
• Case analysis: Undertaking a resource, competence, and value chain analysis for firms in different competitive positions
• Applying these concepts to your firm

Day 3 - Developing strategic options

• Introduction to tools for developing strategic options – Portfolio analysis, Product/Market analysis, Protecting current advantage
• Developing a range of strategic options
• Evaluating options and making strategic choices
• Ensuring that strategic options fit the competitive environment, your firm’s competitive position and develop sustainable competitive advantage
• Case analysis

Day 4 - The strategic decision-making process

• Understanding the key characteristics of effective strategic decision making
• Understanding common traps in strategic decision making – hubris, over-reach, overly consensual
• Introduction to a range of tools for improving strategic decision making – Dialectic inquiry, Devil’s advocacy, Scenario building techniques
• Analysing the strategic decision-making process in your firm, business division, or work group
• Developing a guideline for improving decision making in your firm, business division, or work group

Day 5 - Pulling strategic analysis and decision-making together in a strategy

• Identifying your core business proposition
• Developing a vision and mission statement for your core business proposition
• Identifying the key strategic priorities that your firm needs to meet
• Developing strategic objectives