Business strategy - long-term direction of an organisation, Trio forms strategy statement - goals, scope, advantage, Levels of strategy - corporate (scope), business (how to compete), functional (how functions support), Mission statement focus - Clarity: what business we’re in & how we make a difference, Vision statement focus - Create: the future we aim to create, Corporate values - Principles: that guide strategy/ never change, Objectives - specific, measurable outcomes (e.g., profit/market share/impact), “Being different” definition - Michael Porter, Emergent “pattern” of decisions - Henry Mintzberg, Systematic strategic analysis - evidence-based assessment & implementation plan (Claudia’s brief), Who works on strategy inside - top, middle, and frontline managers, Strategy specialists - both in-house planners/analysts and external consultants, MNC typical issue - structure/control & cultural differences across geographies, Cross-cutting theme shaping expectations/opps - sustainability, Digital transformation - reshapes products, services, and management across sectors (IoT/cloud/AI etc.), Tesla staged approach - fund growth via early premium models → scale & capabilities, hierarchy from idealistic to concrete - Purpose→Vision→Mission→Objectives, Non-profits truth - self-governing, reinvest surpluses, compete for funds/attention, Studying strategy trio - context, content, process, Lens about language/communication - strategy as discourse, Strategy statement checklist (core) - advantage & capabilities to deliver goals/scope, Brevity (≤ ~35 words) - forces clarity for decisions & communication, Airbnb early trust driver - pro photography + social connections/social proof, Stakeholder definition - two-way dependence between org and individuals/groups, Three Levels of Strategy - Corporate level: Overall direction and scope (e.g., Tesla moving into batteries).Business level: How to compete (e.g., innovation vs. low cost).Functional level: How departments (like marketing or HR) support the big goals. Functional level: How departments (like marketing or HR) support the big goals. , The Three Horizons Model - H1: Current core business (protect & extend it).H2: Emerging activities (new areas starting to grow). H3: Future options (long-term innovations and ideas)., Strategy Statement (Collis & Rukstad) - Every organisation should summarise its strategy in a short, clear sentence including:Goals: What it aims to achieve. Scope: Where and for whom it operates. Advantage: What makes it special or better, Exploring Strategy Framework - Strategy = Position + Choices + Action: Position: Where we are (environment, resources, culture). Choices: Where we want to go (markets, products, partners). Action: How we get there (implementation, leadership, change)., Purpose, Vision, Mission, Objectives - Purpose: Why we exist (our reason for being).Vision: The future we want to create.Mission: What we do daily to reach that vision.Objectives: Measurable targets to track success., Cross-Cutting Themes - Non-profits: Aim for social good, not profit, but still need strategy.Sustainability: Combine economic, environmental, and social goals.Digital transformation: Adapting to new tech (AI, data, IoT)., Studying Strategy: Three Perspectives - Context → the environment around the organisation.Content → what the strategy actually is.Process → how it’s created and implemented., Strategy Lenses - Design: Logical, planned approach.Experience: Based on habits, culture, and routines.Variety: Driven by creativity and innovation.Discourse: Shaped by communication and language., Dimensions in a scope of strategy statement - Customers/clients served, Geographic reach, Vertical integration choices, which action most reflects systematic strategic analysis - Hiring a consultant to map the business model, assess markets, and propose data-backed options, Exploring Strategy Framework’s three big buckets - Strategic position, Strategic choices,Strategy in action ,

Week 1 Introducing strategy

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