1. What is strategy? (6:29)

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.