Business strategy is one of the most important factors in leading a successful business. If a business does not have a strategy, it lacks a roadmap or blueprint to help it establish the company's direction. Without a map, it is impossible to know where the business is going. The business strategy allows companies to determine the direction, so all functional business areas can use the strategy as a guide for making decisions within their work units. One of the first steps to creating a strategy is determining internal and external constraints. By understanding these constraints and the market environment, the leader can ensure the strategy is the correct one and implement the strategy from an ethical perspective.
Establishing a strategy isn't easy because it encompasses and requires commitment from every functional area (such as marketing, human resource management, operations, finance, and accounting) of the business. It also requires businesses to determine their core capabilities and level of competitiveness and leverage these to become a winning team. This course will address the many tools available to help leaders determine strategy and ethical frameworks to ensure the company's strategy aligns with its ethics and sustainability goals.
The course will give you the tools to assess ethical models, make strategic decisions, and create a culture that will support those decisions.
- Unit 1: Integrating Ethics into Business Strategy
- Unit 2: Management Strategies Analysis
- Unit 3: Managerial Strategy Formation
- Unit 4: Integrating Ethics into Business Implementation
- Explain the key steps of business strategy formulation, such as identifying mission statements and goals;
- Apply the principles of strategy implementation, such as resource planning and motivating people;
- Explain the importance of ethics in business strategy development;
- Apply ethical decision-making models, such as deontology, rights, and virtues, to business strategy;
- Distinguish between different performance measures and performance referents techniques in business strategy and ethics; and
- Identify the resources needed to implement a given business strategy.