Executing Business Strategy for Optimum Results
Full course description
Duration: 6 Weeks
Commitment: 5 Hours per week (suggested)
Course Type: Independent Study
Requirement: No Requirements
Assistant Professor of Business
Stephanie Charles earned her MBA from a well known business school in the northeast, focusing on the changing trends in the market in the early part of the twenty-first century. Her research focuses on adapting aging infrastructures to meet new business needs. Her entrepreneurial spirit has led her to chair a regional business development committee revitalizing an aged industrial city to become a video game design and development mecca for burgeoning digital artists and young computer programmers.
New markets and labor pools have opened up. Innovative technologies have put once-powerful business models on the chopping block. Capital flows and investor demand have become less predictable. To meet these challenges, firms have become more sophisticated in the best practices for organizational change management. They are far more sensitive to and more keenly aware of the role that culture plays. They’ve also had to get much better on their follow-through.
Executing Business Strategy for Optimum Results equips leaders and managers with practical frameworks for successfully executing strategy in today's ever-changing world.
Strategic management techniques can be viewed as bottom-up, top-down, or collaborative processes. In the bottom-up approach, employees submit proposals to their managers who, in turn, funnel the best ideas further up the organization. This is often accomplished by a capital budgeting process. Proposals are assessed using financial criteria such as return on investment or cost-benefit analysis. Cost underestimation and benefit overestimation are major sources of error. The proposals that are approved form the substance of a new strategy, all of which is done without a grand strategic design or a strategic architect.