Introduction and Learning Objectives
The Five Competitive Forces That Shape Strategy
An Interview with Michael E. Porter, Professor, Harvard University. Porter’s five competitive forces is the basis for much of modern business strategy.
The objective of this module is to help business advisers to understand the techniques that can be used for strategic planning to facilitate the development of a good strategy. It also aims to help you to formulate and implement this strategy, evaluating the progress and making adjustments as necessary to stay on track.
A strategic plan should not be confused with a business plan. The former is likely to be a short document whereas a business plan is usually a much more substantial and detailed document. A strategic plan can provide the foundation and framework for a business plan.
Strategic planning is the process whereby an organisation defines its direction and makes decisions on the allocation of resources to pursue the strategy, including capital and people.
At the end of this Module you will be able to:
- understand the processes involved in strategic planning
- formulate and implement a strategy
- evaluate progress
- make adjustments as necessary to stay on track.