Strategic Thinking and Decision Making: Nokia Case
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You will understand why Nokia lost the smartphone battle but won 5G battle? -
You will derive case-based learning to apply in your business analysis and decision-making -
You will have tools and skills to build and sustain competitive advantage -
You will be able to monitor and evaluate implemented strategies -
You will be able to do decisions based on analysis of the external and internal environment and identify SWOT of the firm and thereby formulate strategies for business; -
You will be able to establish and evaluate mission statement, long term objective, vision, and short-term plan for the business; -
You will understand when to focus on cost and when to focus on differentiation -
You will understand business level and corporate level strategy and related decision making -
You will be able to use proven strategy frameworks: Blue ocean, competitive strategy, BCG framework, and GE Frameworks -
You will be able to decide under uncertainty such as #Covid19 -
You will be able to judge it right the pre-implementation and implementation phase -
You will build skills to manage strategy as a change process
- Anyone in analyst position or managerial or senior management position would benefit from this course
Based on my understanding of Nokia as an insider, outsider, and academician I shed light on the basic tenets of strategic management with an illustration from Nokia and telecommunication plus software industry. This not only enables students to have a holistic perspective of strategic management, but also an understanding of the ground reality that how difficult it is to forecast future and be right all the time. Managing under uncertainty becomes easier with the approach taken in the course. While doing a quick survey of courses in #Udemy, I found that either they are too academic or too practitioner oriented. To fill this gap, I have kept theoretical angle while using Nokia as a case to illustrate the strategic thinking and decision making.
You will be able to do strategic analysis in a systematic manner based on internal and external analysis. In internal analysis you will understand Porter’s value chain analysis and in external analysis you will be able to apply Porter’s five forces analysis. Also, we touch upon Blue Ocean Strategy.
Once the assessment is done, we move on generating options and alternatives and utilise Boston Consulting Group’s matrix, GE matrix and Grand Strategy Matrices in making right decisions.
Once strategy is selected, building a culture and institutionalising the strategy becomes a key issue. We touch upon structure-conduct-performance approach.
Evaluation of strategy implemented based on a benchmark and building a feedback loop through control becomes a necessary part of the process.
You will develop critical thinking problem solving skills with internal and external environmental assessment, SWOT analysis, and other tools.
You will understand framework on how to decide under uncertainty. You will develop a comprehensive understanding of how to do strategic planning, implementation, evaluation, and control.
You will understand how strategy consultants work and if you aspire to be the same at some point in your career, you may be able to plan that career as well.
- Practising managers or entrepreneurs
- BBA and early MBA students
