Section outline

  • Unit Objectives
    1. Understand definitions and elements of a strategy
    2. Differentiate different schools of strategy
    3. Recognize strategy development as a process
    4. Identify Generic strategies and competitive advantage
    5. Apply some of the tools for strategy development

    • 1. What is strategy? (6:29) Page
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      Strategy can be understood as a "planned set of actions that managers employ to make best use of the firms resources and core competencies to gain competive advantage" (Cavusgil et al. 2017, p. 319). In other words, strategic decisions shape the long-term development of a company. They are becoming increasingly important in times of intensifying competition. This first unit provides an overview of the theories, concepts and instruments of strategic management. deals with a on how to formulate and implement promising strategies is. In a practice-oriented manner important concepts are applied, which are utilized at business unit and company level.

    • 2. Schools of Strategy - The Strategy Tripod (4:27) Page
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    • 3. Mintzberg Strategy approaches (7:01) Page
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    • 4. Porter Competitve (Generic) Strategies (5:01) Page
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    • 5. SLEPTS (3:19) Page
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    • 5. VRIO (6:20) Page
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      ♦ ♦ ♦ Did You Understand? ♦ ♦ ♦

    • 1. Self Assessment Quiz
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    • Strategy Tripod Case Page
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    • Short essay question Page
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    • SLEPTS Analysis Etherpad Lite
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    • Selected Internet Ressources for International Management Page
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      ♦ ♦ ♦ Recommended Reading/Videos (optional) ♦ ♦ ♦

    • Porter, M. (1996) What is strategy? (optional) URL
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    • Porter´s Value Chain (3:11) Page
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    • Porter Five Forces (7:42) Page
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    • Self Assessment Quiz - Fives Forces
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    • Business Strategy in Turbulent Times (optional) URL
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      Speaker: Martin Reeves (Chairman, BCG Henderson Institute)

      His simple definition of strategy: "...any systematic pattern of thought..." The video´s lenght is over an hour - too long to be shown in class. But if you find the time, classic as well as more recent strategy models, such as the blue ocean strategy, are discussed.