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Students will work on understanding different aspects of the strategic management environment, presenting the synthesis of their investigation in a short video presentation. The video presentation will include three artefacts, listed below. Each artefact has a specified timing for the length of explanation and requires a single PowerPoint slide as accompaniment. The PowerPoint slides should be mostly images that illustrate your main points, as the text, or explanation, is done through the video.
Define your personal strategy
Determine your personal competitive advantage/s
Who am I as an entrepreneur
Topic 1 introduced the concept of strategy and the key role it plays in the success or failure of an organization but, what about your own strategy? If you want to be successful in this unit, you should define a strategy.
Your strategy must include:
Your challenge and finish line
Your list of no’s
Your external and internal stakeholders.
Note: to complete the point 1 and 2, Watch the video ‘What is Business Strategy? A simple business strategy definition!’ from the topic 1 workshop
As part of your individual strategy and following the development of your personal strategy, determine your personal competitive advantage/s to accomplish your strategy.
In determining your personal competitive advantage, you must:
Define your resources: tangibles and intangibles
Define your capabilities
Determine your competitive advantage/s using the RBV analysis
Below are some questions to help you to determine your competitive advantage/s:
What are your tangible and intangible resources to accomplish your strategy?
What are your capabilities? How can you create capabilities?
What five criteria do you have to become core competencies?
What is/are your competitive advantage/s? How does the competitive advantage help you to accomplish your strategy?
Do you have any sustainable competitive advantage?
The importance of the ‘Why’ in the ‘What, How, and Why’ model is explained in the video “How great leaders inspire action” by Simon Sinek in topic 8. Knowing your ‘Why’ is essential for your success as an entrepreneur.
To explain ‘Who you are as an entrepreneur’, you must:
Clearly identify your ‘Why’
Link this back to your competitive advantage (your ‘How’)
Link this back to your strategy (your ‘What’)
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