The strategy provides a vision of the future, confirms the purpose and values of an organization, establishes objectives, clarifies threats and opportunities, determines methods to take advantage of strengths and mitigate weaknesses (at a minimum). Strategic management has many benefits, including identifying, prioritizing, and exploring opportunities. For example, newer products, newer markets, and new forays into business lines are only possible if companies are carried away by strategic planning. It's important to note that strategic planning is an ongoing process, not a one-time meeting.
In the online course Disruptive Strategy, Harvard Business School professor Clayton Christensen points out that, in a study of HBS graduates who created companies, 93% of people with successful strategies evolved and moved away from their original strategic plans. Strategic planning requires time, effort, and continuous reevaluation. With the right care, you can set your company on the right path. These are three benefits of strategic planning.
No, all of our programs are 100% online and available to participants regardless of location. Our simple online application is free and no special documentation is required. All applicants must be at least 18 years of age, fluent in English, and committed to learning and interacting with other participants throughout the program. Another advantage of having a strategy is that it shows how information is managed, in a modernized, quantifiable and secure way.
