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Strategy management is a key skill for business leaders. Good strategy management involves not only identifying and developing the right business strategies in complex and changing environments, but also successfully implementing these strategies. This requires a mix of analytical and business development skills, as well as strong leadership skills for building teams, aligning business activities to support the objectives and managing internal and external relationships.
Strategy management training from a top business school is a great way to develop and refine the necessary skills to create value through developing and executing a strong business strategy. The trick is to find a training course that not only addresses the key skills required for effective strategy management, but which leads to a concrete improvement in your strategic leadership skills.
Strategy management obviously requires good strategic thinking. First and foremost you need a thorough understanding of your industry sector as well current trends affecting your business and its long-term success. Strategy management training should therefore provide you with a wide, interconnected view of your company and the business environment in which it operates - and will operate in the future. It should help you clarify what it will take to succeed in 5 to 10 years, what might be an effective business model, and what key choices you face.
This should not be a theoretical approach. Strategy management training should provide practical tools and insights into assessing your company's current situation. For example, it should help you to look at the business from the perspective of different stakeholders - such as customers, suppliers and competitors. It should also help you to assess organizational structures and whether these are aiding, or hindering, business activities.
The best strategy management training allows you to directly analyse your own business as part of the course. This will concretely help you gain a clear understanding of the internal and external factors that will determine your company's success. The training should also support you to evaluate different options for your business and develop a powerful vision for the organization.
Effective strategy management training also addresses issues surrounding leadership and decision-making in order to help you to execute your strategy. Such issues include aligning the entire organization behind your strategy, stakeholder engagement, and how to build the right capabilities for future needs. Specific leadership courses can also be helpful for building personal and business leadership skills.
Your best bet for effective strategy management training is to go to a top international business school, particularly one that specializes in executive education. You can identify the top schools through rankings from independent publications such as the Financial Times. The advantages of programs offered by top international business schools include:
With the right training, you'll be prepared to play a key role in keeping your business ahead of the competition in an evolving and ever-changing market. You'll gain both analytical and leadership skills that will help you develop and implement relevant and effective strategy management.