Strategy Formulation and Development Training Course

Module 1: Foundations of Strategy Formulation

• Defining strategy: What it is and what it isn’t
• The importance of strategy in a dynamic business environment
• Different levels of strategy: Corporate, Business, and Functional
• The strategy formulation process overview
• Key characteristics of a good strategy
• Practical session: Participants discuss examples of good and bad strategies from various companies and identify key characteristics

Module 2: Vision, Mission, Values, and Strategic Intent

• Crafting a compelling organizational vision: Where are we going?
• Developing a clear and concise mission statement: Why do we exist?
• Articulating core values that guide behavior and decisions
• Defining strategic intent: A stretched ambition that drives the organization
• Communicating vision, mission, and values to inspire and align stakeholders
• Practical session: Working in groups to draft vision, mission, and values statements for a hypothetical organization

Module 3: Strategic Analysis: Internal and External Environments

• Review of environmental scanning and strategic analysis tools
• Internal analysis: Resources, capabilities, and core competencies (VRIO framework)
• External analysis: PESTLE and Porter’s Five Forces revisited
• Integrating internal and external insights: SWOT analysis
• Identifying strategic issues and critical success factors
• Practical session: Performing a SWOT analysis for a provided case study and identifying key strategic issues

Module 4: Crafting Competitive Strategies

• Generic competitive strategies: Cost Leadership, Differentiation, Focus (Porter)
• Understanding blue ocean vs. Red ocean strategy
• Developing value propositions and competitive advantages
• Innovation as a competitive strategy
• Strategic positioning and market segmentation
• Practical session: Designing a competitive strategy for a business unit based on market analysis

Module 5: Corporate-Level Strategy and Diversification

• Understanding corporate-level strategy: What industries should we be in?
• Growth strategies: Market Penetration, Market Development, Product Development, Diversification (Ansoff Matrix)
• Types of diversification: Related and Unrelated
• Portfolio management tools: BCG Matrix, GE-McKinsey Matrix
• Mergers, acquisitions, and strategic alliances as growth mechanisms
• Practical session: Analyzing a company’s portfolio using the BCG Matrix and making recommendations for strategic direction

Module 6: Functional-Level Strategies and Alignment

• The role of functional strategies (e.g., Marketing, Finance, HR, Operations, R&D)
• Ensuring vertical and horizontal alignment of strategies
• Developing action plans for functional departments to support overall strategy
• Resource allocation at the functional level
• Monitoring and control of functional performance
• Practical session: Brainstorming key functional strategies required to support a new business unit strategy

Module 7: Strategic Choices and Resource Allocation

• Criteria for evaluating strategic alternatives
• Decision-making frameworks for strategic choices
• Prioritizing strategic initiatives based on impact and feasibility
• Strategic resource allocation: Budgeting and investment decisions
• Managing trade-offs and opportunity costs in strategic choices
• Practical session: Making a strategic choice between several alternatives for a given business scenario and justifying the decision

Module 8: Managing Strategic Risks and Contingencies

• Identifying potential strategic risks (e.g., market shifts, technological disruption, regulatory changes)
• Assessing the likelihood and impact of strategic risks
• Developing risk mitigation strategies and contingency plans
• Building organizational resilience and adaptability
• The importance of continuous monitoring of the strategic environment
• Practical session: Identifying key risks for a proposed strategic initiative and outlining mitigation strategies

Module 9: Communicating and Gaining Buy-in for Strategy

• Developing a communication plan for strategic initiatives
• Tailoring strategic messages for different internal and external stakeholders
• Engaging leadership and employees in the strategy
• Overcoming resistance to strategic change
• Creating a shared understanding and commitment to the strategy
• Practical session: Preparing a short presentation to “sell” a new strategic direction to internal stakeholders

Module 10: Building a Dynamic Strategy Formulation Process

• The importance of iterative and adaptive strategy
• Establishing a continuous strategy review and update cycle
• Leveraging strategic planning tools and software
• Fostering a culture of strategic thinking throughout the organization
• The role of learning and feedback in evolving strategy
• Practical session: Outlining the key steps for establishing a more dynamic and continuous strategy formulation process within an organization

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588