About this course
The business strategy toolkit training course offers a package, or a “toolkit”, of the tools, tactics, methods, and models that you need to build a strong strategic structure for your business.
This course introduces you to the basic principles and techniques of strategic business management. During this training course, we will help you grasp the concept of strategy and how it impacts competitive advantage.
The business strategy toolkit training course will assist you to explore various strategic tools and methods to identify environmental threats and opportunities. We will also teach you to recognize the strengths and weaknesses of your organization to develop the required competencies.
While it is critical for a manager to work in the business (function), it is crucial for them to spend sufficient time working on the business (strategy). Setting major strategies for an organization would evolve with time and constantly change based on different events, yet defining the baseline, even in a broad and general outline can make a significant change in the consequence actions of the organization. Plus, executing such strategies are as important as defining them. Through the business strategy toolkit training course, we will teach you to define strategies suitable for your business. It will also teach you how to use the tools and resources available to you to execute those strategies
Trainees will also learn:
- The main challenges outside the organization that could affect the performance of the organization
- How to deal with these challenges?
- What are the key strategies and tactics you need to use to accomplish the best results?
- Emotional intelligence in leadership
- Different dynamic approaches by using creative and innovative methods
- Persuasion and influencing skills and tactics to achieve your goals
In order to foresee the future growth areas of your business and the potential issues that might damage your organization, as a manager, you, therefore, need to plan both efficiently and effectively. In the business strategy toolkit training course, we will provide you with a complete foundation in a broad range of strategic exercises and procedures.
Audience
The business strategy toolkit training is a 2-day course suitable for:
- Business owners
- Managers involved in developing strategies for their organization
- Middle managers who are on the track to senior positions
- Both public and private sectors can benefit from this training course
Things You Might Need for this Course
Course Objective
Upon the completion of the business strategy toolkit training course, the attendees are able to:
- Develop the necessary skills to perform an internal and external analysis
- Evaluate the dynamics of competition
- Build strategies by applying suitable structures and tools
- Understand and discuss the basics of strategy implementation and control
- Describe competitive advantage
- Develop research skills to always stay updated and informed about what is related to the business
- Develop greater and broader awareness and competencies
- Develop better skills of monitoring, supporting, and performance
- Establish norms and regulations
- Use the resources in the most effective way
- Take more reasonable risks
- Share knowledge
Modules
Lesson 1- Overview of Strategy Toolkit
- Background of strategic development
- The importance of strategy tools
- List of strategy tools
- Which tools are used the most
Lesson 2 - Strategic Thinking
- What is “frames of reference”?
- Various thinking styles and how they impact developing strategies in organizations
- Always look at the big picture, while paying attention to detail
- The role of creativity in strategic thinking
Lesson 3 - Structure of The Strategic Planning
- Principals of organizational and corporate planning
- Corporate strategy vs. business strategy
- The role of strategic leadership on the planning culture
- Importance of competitive advantage
- Strategies must target the future
- Importance of the ability to prioritize tasks and actions
- How to write a one-page-strategic-plan
- Why? What? How? Who? When?
- Creating values and managing them
Lesson 4 -How To Create Unique Value?
- How to set effective strategies in the absence of necessary and valuable resources?
- Importance of mission statements
- Outsource strategies
- Stay away from greed and distrust
- Essential elements to profitability
Lesson 5 - Principals Of Value Creation and Capture
- Integrate resources
- Set dynamic abilities and sustain advantages
- Clients’ perspectives and expectations
- Who gets the most value from being creative
Lesson 6 - The Strategy Toolkit
- Core competences analysis
- Critical (key) success factors
- Industry life cycle
- PESTLE
- Porters’ forces
- Portfolio Matrices, BCG or McKinsey
- Resource-Based View
- Scenario Planning
- SWOT
- Value chain
- Strategic Activity Trees (SATs)
- Using the uncertainty and importance grid to prioritize key activities
- Cognitive and Causal Mapping
- Fishbone analysis of problems
- Wishbone analysis of potential
- Benchmarking for gap widening
- Introducing force field and stakeholder analysis
Lesson 7 - Strategy Tool Practice Based On The Company Characteristics
- Size of the company
- The type of industry
- The HQ location
Lesson 8 - The When, How, And Why Of Strategy Tools
- The value of strategy tools
- Most valuable strategy tools in the various phases of the strategy process
- Observed value across the three phases of the strategy process
- Reasons for using strategy tools
- Most and least dropped strategy tools
- Reasons to drop strategy tools
Lesson 9 - What Can Affect Using The Strategy Tools
- Training and education
- Career effects
Lesson 10 - People And Culture Effect
- Main parameters of developing vision, mission, and purpose statement
- Maslow’s hierarchy of needs
- Richard Barrett’s concept
- Stephen Covey’s theory
- Hofstede’s cultural dimensions
- Strength Deployment Inventory (SDI)
- Blanchard and the Situational Leadership Model
- Belbin’s Team Roles
Lesson 11 - Strategic Frameworks
- Developing the framework, step by step
- Effect of the corporate value on individual values
- The European Foundation for Quality Management (EFQM) Model
- The Corporate Alignment Model (CAM)
- Scenario planning
- Storytelling
- McKinsey 7Ss framework
- Kaplan and Norton Strategy Maps
- Peter Senge – The Fifth Discipline
Lesson 12 - Financial Sector
- The BCG development matrix
- Financial ratios
- Evaluating financial attraction via the “value-over-time” curve
- Budgeting
- Overhead cost analysis
- Discounted Cash-flow (DCF)
- Value-Based Management (VBM)
Lesson 13 - Implementing The Strategy Tools
- Length and style of a strategic plan
- Developing the storyline
- How to communicate the plan
- Evaluate the implementation difficulty
- Implementation plans
- Key Performance Indicators (KPIs)
- Kaplan and Norton concept of the Balanced Score Card (BSC)
