Business Planning: Strategy Formulation
Learn the principles of business planning
Sentinel 9
Summary
- Reed courses certificate of completion - Free
- Certificate of completion - £3
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Overview
This course aims to provide users with the opportunity to develop and enhance their skills and knowledge in the field of Strategic Business Planning. The module includes the following topics: Levels in Strategy Formulation; Macro & Micro Environmental Analysis; PESTLE Analysis; Michael Porter—5-Forces & Competitor Analysis; Internal Resource & Capability Analysis; Risk Analysis & Mitigation Tactics; Marketing Mix 4P’s; Unique Selling Proposition (USP); Value Proposition and USP; and Segmentation.
Curriculum
Course media
Description
BACKGROUND:
The vision and mission statements help an organisation to establish its goals, and this is the first step in the process of formulating a strategy. Strategy formulation is the process by which an organisation chooses the optimal strategic course of action that enhances the chances of achieving its goals and objectives. This process is important because it designs the framework for the organisation’s processes and procedures to achieve the targeted results in light of the organisation’s situation and prospects. Mintzberg highlighted that:
“Strategy formation is judgmental designing, intuitive visioning, and emergent learning; it is about transformation as well as perpetuation; it must involve individual cognition and social interaction, cooperation as well as conflict; it has to include analysing before and programming after as well as negotiating during; and all of this must be in response to what can be a demanding environment. Just try and leave any of this out and see what happens”
LEARNING OUTCOMES:
Upon the completion of this module, users will be able to:
• Understand the theoretical and practical knowledge of strategic business planning to generate solutions to improve current practice.
• Examine the key challenges faced by strategic business planners and conceptualize a strategic response to overcome these challenges.
• Critically analyze information and utilises strategic business planning tools, improve problem-solving and decision-making abilities to achieve a competitive advantage within an organisation.
Who is this course for?
- Students
- Self Employed Individuals
- Managers
- Business Owners
- Start-up Companies
- Executives
- Business Analyst
Requirements
- No prerequisites.
- No materials distributed.
- No formal assessments required
Career path
- Administrator
- Business Development Officer
- Consultant
- Government Officer
- Manager
- Operations Manager
- Project Manager
Questions and answers
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Certificates
Reed courses certificate of completion
Digital certificate - Included
Will be downloadable when all lectures have been completed
Certificate of completion
Digital certificate - £3
The certificate will be sent via email once the course has been completed.
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This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.
