Strategic Business Planning: Formulate Effective Strategies

Name: Strategic Business Planning: Formulate Effective Strategies
Rating: 4.3 (28 reviews)

Utilize the Key Concepts of Strategic Planning to Develop Optimal Business Strategies

Created byAmber Krause (MBA)

Last updated 4/2020

English

What you'll learn

Formulate effective business strategy
Compare and contrast competing business strategies
Support your strategy recommendations with diagrams, spreadsheets, and planning matrices
Master the most common strategic planning tools

Course content

4 sections • 18 lectures • 2h 2m total length

Introduction1:02
Welcome to the course! This video briefly discusses the goal of strategic planning and gives an overview of the course.
Overview of Strategic Planning13:07
In this video, we will take a broad look at the strategic planning process to see how properly planned goals, strategies, and policies can work together to help an organization achieve its vision and fulfill its mission.
Porters Generic Strategies and Five Industry Forces13:11
In this lesson, we will discuss how Porter's "Five Forces Analysis" can help leaders understand the forces, such as consumer and supplier power, that shape an industry. We will also consider how a firm's choice of a generic strategy impacts its future decisions.

Intro to Input Stage3:02
In this first section, we will be covering the "Input Stage" of strategy formulation. This video will briefly discuss the importance of the input stage as well as laying the foundation of what we will cover in the following videos.
External Factor Evaluation Matrix6:54
The External Factor Evaluation Matrix is a tool that allows leaders to analyze how factors outside the control of their business can affect the organization. In this lesson, we will discuss the basics of the EFE as well as construct our own basic EFE Matrix.
Internal Factor Evaluation Matrix7:45
The Internal Factor Evaluation Matrix allows strategists to analyze an organization's internal strengths and weakness and is the starting point of the input stage of strategy formulation. In this video we will discuss the basics of the IFE and construct our own IFE Matrix.
Competitive Profile Matrix8:23
The Competitive Profile Matrix is the most advanced matrix in the input stage. It allows a business to compare internal strengths, internal weaknesses, external threats, and external opportunities against its competitors. This matrix forms the bridge between the input and matching stage because it is the first opportunity that the company has to see how it stacks up against its competitors.

Intro to Matching Stage3:24
Welcome to the matching stage. In this stage of the strategy formulation process, we will use several planning tools to help the business generate strategies that highlight its strengths while minimizing its weaknesses. We will also learn how to take advantage of opportunities while minimizing threats to the business.
Grand Strategy Matrix8:15
In this lesson, we will use the Grand Strategy Matrix to help a business choose a broad strategy for the organization as a whole.
SPACE Matrix11:18
In this video, we will learn how to use the Strategic Planning and Action Evaluation Matrix to determine whether a business should pursue an aggressive conservative, defensive or competitive strategy.
BCG13:11
The Boston Consulting Group Matrix is a tool that evaluates different divisions within an organization. This tool allows strategists to develop different strategies for each division based on its relative market share and industry growth rate.
Internal External7:26
The Internal External Matrix is a useful supplement to the BCG Matrix in that it compares a company's divisions. It offers a unique approach by considering Internal and External strengths and weaknesses instead of Relative Market Share and Industry Growth Rate.
SWOT Matrix8:00
The SWOT Matrix is one of the most widely used tools for generating strategies. It helps an organization generate strategies that use its strengths and weaknesses to either pursue opportunities or defend against threats.

Updated Templates0:02
All the PowerPoint and Excel Templates can be found here.
Quantitative Strategies Planning Matrix9:40
The Quantitative Strategies Planning Matrix is the final step in the strategy formulation process. We will use this matrix to compare the strategies that we generated in the matching stage and suggest the optimal strategy for the business.
Note About Resources1:28
I have included templates for you to use in your own research. They are saved in the "OpenOffice" format so that you can access them if you can't afford Excel or PowerPoint.
Putting It All Together5:41
In this video, I will discuss how I would write a term paper about strategic management using the concepts we have learned in the course.
Conclusion0:49

Requirements

Basic knowledge of Microsoft Office or similar program
Ability to read annual reports, financial statements and calculate basic financial ratios

Description

Welcome!

Strategic Planning is the way in which businesses answer the BIG QUESTIONS and choose optimal business strategies. For example, strategic planning allows business to decide between researching new products or improving existing products. It can help businesses decide whether to focus on expanding online sales or opening more physical stores. This is a three-stage course that is designed to mirror the three stages of strategy formulation. Strategic planning is an essential component of any business education, and it is a capstone course in many graduate and undergraduate business programs. As such, this course assumes that you have prior business experience and is NOT intended to be a student's first business class.

Topics Covered:

Internal Factor Evaluation Matrix (IFE)
External Factor Evaluation Matrix (EFE)
Porter's Generic Strategies
Five Forces Analysis
Grand Strategy Matrix
Strategic Planning and Action Capabilities Evaluation Matrix (SPACE)
Boston Consulting Group Matrix
Internal-External Matrix
Strengths Weaknesses Opportunities and Threats Matrix (SWOT)
Quantitative Strategies Planning Matrix
Research project flowchart

Additional Benefits

10 Free Strategy Templates that you can use as part of your own research.
Full lifetime access to 2 hours of video content
30 Day Money Back Guarantee

About the Instructor

Robert Reed is a current Masters of Business Administration candidate and veteran with four years of service in the 82nd Airborne Division of the United States Army. He holds a B.A. in Economics and has served as a student tutor for three years.

*Although certain business topics and references are discussed in this course, this is for illustrative purposes only. This course does not offer any kind of financial, business, or investment advice.*

Who this course is for:

Intermediate to Advanced Business Management Students

Strategic Business Planning: Formulate Effective Strategies

What you'll learn

Explore related topics

Course content

Introduction3 lectures • 27min

Input Stage4 lectures • 26min

Matching Stage6 lectures • 52min

Decision Stage5 lectures • 18min

Requirements

Description

Who this course is for: