What's your role in developing your organisation's strategy? Do your clients ask you to help them develop theirs? Senior finance professionals have a key role to play in both developing strategy and setting the direction for organisations, whether it's your own or your clients.
If your strategy is executed well, it can help you to gain an enduring advantage over your competitors. This would give you the opportunity to deliver above-average returns for your company and its investors. But what is a winning business strategy? How do we create one?
You'll firstly need to work from the "outside-in", covering the context your company or partnership operates in; this includes an understanding of business lifecycles and industry consolidation. Moving on, you'll need to explore the external factors which matter when putting together your business strategy, things such as, sector attractiveness and sources of competitive advantage. Then, you'll need to include internal factors such as the value chain and cost structures. When you've evaluated these, you can bring them together to determine your competitive position.
Finally, you need a clear idea of where you'd like to move your business to, and how to get there. Exploring the levers you can pull and how to prioritise them.
Understanding these stages of strategic analysis are just the first steps in creating a winning strategy. You also need to know how to use these tools to create an action plan and how to put that plan into action. That is where our course Strategic Analysis and Competitive Positioning comes in. This course helps company and partnership leaders learn how to create a winning strategy for business. Learn how to develop a rock-solid strategic planning process. This course is designed to deliver the tools you'll need to build enduring competitive advantage and the buy-in of their investors and staff.
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