Strategy is about sustainable competitive advantage. Create massive value for customers and protect your profits. Strategy is about winning. Play your own game and use your unfair advantage.
Mastering Business Essentials: Strategy
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Gain insight into a topic and learn the fundamentals.
Beginner level
Recommended experience
4 hours to complete
3 weeks at 1 hour a week
Flexible schedule
Learn at your own pace
What you'll learn
Learn the difference between strategy and planning. Be able to explain why strategy can be scary, and while it's more like poker than chess.
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Recently updated!
April 2025
Assessments
2 assignments
Taught in English
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There are 5 modules in this course
Strategy is about sustainable competitive advantage; it's about winning. It's about playing the long-game, knowing what you do well, creating massive value for customers, and finding your unfair advantage. It applies to everyone.
What's included
2 videos1 reading1 discussion prompt
Industries don’t change overnight. They have structural dynamics and players that push/pull for profits. If we were Coca Cola, it's natural to think of rivals (e.g., Pepsi, Dr. Pepper), but also consider other players: a) suppliers (aluminum, glass providers) who want to raise prices; b) distributors (grocery, retail, gas stations) who want discounts; c) new entrants (energy drinks) who want to get into your industry, your business; d) substitutes (water, tea) that offer different kind of value. Business is a wrestling match for profits, so we should always remember who we are wrestling with.
What's included
3 videos1 assignment2 discussion prompts
Strategy is how we deal with competition. Customers have high expectations and competition (rivals, suppliers, distributors, new entrants, and substitutes) are always knocking on the door. So our strategy needs to be a "flywheel" that gets stronger over time. . . sustainable, enduring, and hard to copy.
What's included
2 videos1 reading1 discussion prompt
Positioning is a marketing concept that also applies to strategy. When your customers think of their top 3 choices, how would they describe you, and how would they describe their other choices. Question: How are Dell and Apple different? Don't they both make electronics? Answer: They use their core competencies - what makes them truly unique to "be the best versions of themselves" and "play their own game."
What's included
3 videos1 assignment2 discussion prompts
Strategy is not a straight line. Your customers have opinions and choices; they don't have to like your products. They don't have to pay for your service. Competitors are always eager to out-best you, work harder, copy your success. Steal your market share. Free markets are great for customers and terrible for lazy companies. Strategy involves trade-offs. You cannot be all things to all people. Strategy involves innovation, risk, and potential failure. As Roger Martin, ex-Dean of Rotman Business School (Toronto) said, "If you're not scared, it probably means your strategy is no good."
What's included
2 readings1 peer review1 discussion prompt
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Frequently asked questions
Strategy is about having a sustainable competitive advantage, which is incredibly important to companies and your personal career. What are you uniquely good at? What are customers willing to pay you for? How can you create an "economic moat" around yourself? What lessons can we learn from Reliance Jio, Apple, Dell Computer, Trader Joe's, and Southwest airlines.
In the age of GenAI (ChatGPT, CoPilot, LLM) where machines learn by themselves, how can you stay relevant and earn $$$. Strategy is about making difficult choices = investing your time with customers, skills, experiences that gain in value.
Tactics are always important, but strategy helps you win long-term. I teach strategy every year to Emory students, here is a sample of the questions we tackle together in the classroom, in discussions, and online here.
John Kim, is an associate professor in the practice, at Emory University. He is a management consultant by experience and passion. He's been teaching strategy, healthcare, and consulting since 2017.
He has a Management Consulting specialization here with 1,300+ reviews with a weighted average 4.9 star rating here.
His teaching style is interactive - yes, even with online videos - and wants you to succeed. See his teaching philosophy here.
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