Strategy Formulation

The course begins with an introduction to strategy formulation, addressing the definition of business strategy, competitive advantage, and strategy plans. Participants will engage in discussions to understand the critical components of strategy formulation.

Module 2 focuses on industry analysis, examining the wind turbine industry through the case of Vestas and analyzing factors such as business environment, competition, and industry attractiveness. Real-world examples provide insights into industry dynamics and strategic positioning.

Resources and capabilities are explored in Module 3, with a focus on understanding the relationship between firm resources and competitive advantage. Real-world cases, such as ECCO's production of shoes, provide practical insights into sustaining competitive advantage through resources and capabilities.

Module 4 delves into global strategies and the multinational corporation, examining the motives for internationalization, the balance between local and global forces, and the implications for multinational enterprises. Real-world cases, including Carlsberg in China, provide valuable perspectives on global strategy formulation.

Strategic decision-making is the focus of Module 5, exploring concepts such as cognitive limitations, hidden costs, and biases in decision-making. Real-world examples, including LEGO’s outsourcing journey, offer practical insights into strategic decision-making processes.

The course concludes with Module 6, which delves into formulating a strategy in a 21st-century creative company. Participants will explore real-world dilemmas and engage in the strategic formulation process through the case of e-Types, gaining practical insights into contemporary business strategy challenges.