Skip to 0 minutes and 11 seconds I hope you have enjoyed this preview into principles of strategy. You now understand what an organisation is, the concept of bounded rationality, strategy as a subject and the strategic management process. You have also developed an appreciation for the specific requirements of stakeholders and the sources of competitive advantage. To enhance your managerial and financial fluency, we explored the phenomenon of strategic drift and introduced some standard measures of performance using ratios. However, this short course is only the beginning of the Principles of Strategy module on Coventry University’s online BA in International Business degree. Join us in the next short course to learn more, develop your capacity for strategy development, and your mastery of the C-suite.
Review of the course
In this short video, Dr Adah-Kole Onjewu summarises what we have covered over the last two weeks.
This week, you have examined the concept of competitive advantage derived through cost leadership and differentiation. You have also considered the standard and tailored ways in which organisations seek to measure ongoing performance in the pursuit of competitive advantage.
The standard ratios and descriptors provided this week will enhance your financial literacy and fluency.
When drawing conclusions on performance, always remember the cardinal rule – keep it simple.
How does the learning in this week compare to your previous understanding of competitive advantage and performance within organisations? Discuss in the comments area.