Strategic Management

Go to Course: https://www.coursera.org/learn/strategic-management

Introduction

### Course Review: Strategic Management on Coursera #### Overview In a rapidly evolving business landscape, traditional strategies are becoming obsolete. The Strategic Management course offered on Coursera provides an in-depth examination of the contemporary approach to business strategy, which emphasizes adaptability and innovation over historical methodologies. This course is particularly relevant for professionals and students eager to refine their strategic thinking skills and navigate the intricate dynamics of modern business. #### Course Structure The course is the first in a three-part specialization, setting the foundation for understanding 21st-century business strategy through a well-structured syllabus. Here’s a brief look at the modules: 1. **A 21st Century Approach to Business Strategy** - Introductory insights into the course, establishing the framework for strategic thinking in today's business environment. 2. **What is Strategy? And why do we care about it?** - This module focuses on defining strategy and its importance, exploring real-world examples that illustrate strategic concepts. By the end, participants will be able to differentiate between various strategic interpretations and situations. 3. **The Evolution of Strategy...Past Progress, Past Mistakes** - This reflective segment covers the historical context of strategy, highlighting past mistakes in strategy consulting and planning. By learning from history, students can recognize pitfalls and develop better strategic approaches. 4. **Changing World, Changing Strategies** - With globalization and technological advancement altering the business landscape, this module discusses how companies must adapt their strategies to remain competitive. It tackles issues like structural cost advantages and the impact of emerging markets. 5. **Capstone Project Intro — Strategy in a 21st Century Creative Company** - In this hands-on final project, students analyze a case involving a design firm facing a strategic dilemma between innovation and client satisfaction. This real-world scenario encapsulates the course's teachings and allows students to apply their learning in a practical context. #### Learning Outcomes Upon completing this course, participants will: - Understand the multifaceted nature of strategy and its relevance in today’s business context. - Recognize historical mistakes in strategic planning to guide better future decisions. - Analyze the effects of globalization and technology on strategic positioning and decision-making. - Build tangible strategies through case studies, culminating in the capstone project. #### Recommendation I highly recommend the Strategic Management course on Coursera for anyone interested in honing their strategic thinking skills. Whether you are a business professional, a budding entrepreneur, or a student aspiring to enter the corporate world, this course equips you with essential tools to navigate the complexities of modern business strategies. The combination of theoretical foundations and practical applications ensures that you not only understand the principles of effective strategy but also learn to apply these concepts in real-world situations. The capstone project is particularly engaging, allowing participants to confront and resolve dilemmas that mirror those faced by contemporary organizations. Moreover, the flexibility of Coursera's online platform allows you to learn at your own pace, making it accessible for those balancing work and study. Overall, this course is an investment in your professional development that promises to enhance your strategic capabilities in the 21st-century business landscape.

Syllabus

A 21st Century Approach to Business Strategy

A short intro to the Course.

Strategy can mean a lot of things. In this module, you'll encounter examples of strategy in action that demonstrate what people mean when they talk about strategy. After completion of the module, you'll be able to: Describe examples of strategy in action; Recognize "strategic situations"; Explain the difference between strategy as "position" and strategy as "capability" (and why that matters).

Historically, strategy consulting and strategic planning have been big business. Companies have spent a lot over the years on sophisticated, high-brow "strategic" consulting. For a long time, consultants were the strategy "high-priests" of business. Until it all fell apart. Many past approaches have now fallen into disfavor, having risen spectacularly and failed even more spectacularly. Indeed, the history of business strategy making could be called a "March of Folly" (historian Barbara Tuchman uses this expression to describe a tendency in human history to repeat the same mistakes, again and again). This module explores what the past can teach us, how we might avoid repeating past mistakes.

In the past several decades, a lot has changed in the world. Many more people and nations (China, India, Russia, etc) have joined the global market economy. The number of Internet users has skyrocketed and continues dramatically upward. Shipping traffic between countries has multiplied and also continues to grow. All this world change has changed the strategy situation of most companies in a big way. It means, for example, that companies in advanced economies have to compete against rivals that have structural cost advantages, because they operate in lower cost parts of the world. This module describes the shifted and shifting strategy landscape, due to the advance of technology and the relentless march of globalization.

An up-and-coming (and very ambitious) design firm is unexpectedly invited to bid for a work against more prominent competitors. The job: Design the logo and other elements of the public identity of the national sports team. Winning will vault e-Types to much greater prominence. Their work will be displayed on TV and on t-shirts. And they believe they have what it takes to win. But there's a problem. The e-Types designers, who have always thought of themselves as design revolutionaries, don't like the guidance they're receiving from this somewhat conservative client. In short, the designers think what the client is asking for is BORING. It's not the kind of work they want to do or be known for...now or ever! Meanwhile, more business oriented e-Types managers and staff can hardly believe what they're hearing from the designers -- don't they see the opportunity? This is business and there's money to be made. The designers should GET OVER THEMSELVES and satisfy the customer. Right? Controversy grips e-Types. At stake: what kind of company will they be going forward? Can they continue to be revolutionary and still satisfy their growth ambitions? Or is it time for them to "grow up" in order to appeal to a wider range of customers. The battle is on for the soul of this company -- what will YOU recommend?