Mini-MBA

Introduction to the Internal Layer

In this video we establish how we can classify the assets within any business by putting them into specific categories. We also consider why the assets within a business cannot be considered independently of the competitive environment in which that business operates. The Industry Layer and Internal Layer are interrelated.

Case Study 1

We apply the principles looked at in Video 2.1 to a case study. This explains how South West Airlines has used its internal assets to overcome its industry forces and thereby become the most profitable short haul airline in the world. This helps us to start thinking about how we can identify the key assets within a business.

An Introduction to Step 2

Here we see that having carried out an industry analysis, before we are really ready to select the best strategies for a business or identify the Key Assets that need to be place (in order to execute those strategies) there is actually another step that we need to go through.

The Strategy Canvas - Step 2

Our next step is to draw a strategy Canvas (Step 2). This helps us to graphically represent the customer needs that the business seeks to prioritize. We look at several examples of how to draw a strategy canvas. You will be asked to draw a Strategy Canvas in the Apply element of Module 2.  Complete the corresponding Interactive Worksheet to apply the concepts to your own business. 

Strategy Selection - Step 3

Now we are ready to select the best strategies for a business from the predefined lists. It is important that the strategies that we select are consistent with the Strategy Canvas. Strategy Selection is Step 3.  Complete the corresponding Interactive Worksheet to apply the concepts to your own business. 

Case Study 2

To consolidate the learning we apply all the principles looked at so far on the course to a case study (IKEA). We see that any strategy must be based upon an internal layer properly equipped to execute that strategy otherwise it is nothing more than a marketing slogan or trick shot which is indefensible against the competition and transparent to the customers. 

Key Asset Maps and Functional Strategies - Step 4

In this video we see that identifying Key Assets and determining how to put them in place (referred to as Functional Strategies) both form part of Step 4. Once you have watched this video please move on to the Apply element of Module 2.   Complete the corresponding Interactive Worksheet to apply the concepts to your own business. 

An Introduction to the General Layer

The Future 5 Forces Model - Step 5 (Part 1)

This is the first video in Module 3 and in this video we look at the importance of considering changes that take place in the General Layer in terms of their impact on the Five Industry Forces. This is achieved through the use of The Future Five Forces Model (Step 5 - Part 1).

Case Study

We apply the Future Five Forces Model to a case study (Filofax) in order to demonstrate how easy it is to misinterpret the real impact of changes in the General Layer unless such changes are understood in relative terms through the use of The Future Five Forces Model.

Further examples of the Future 5 Forces Model

We consider a range of additional examples of the application of the Future Five Forces Model. For example how to properly interpret changes in laws and regulations, economic conditions (where we look at the 3 rules of recessions) and technology. You will be asked to apply the Future 5 Forces model in the Apply element of Module 3.

The Future Brand Identity Model - Step 5 (Part 2)

In addition to considering how changes in the General Layer impact on the industry forces we also need to determine how they can disrupt the brand identity of a business by creating new needs that have not been factored into a business's strategies. This is represented through use of The Future Brand Identity Model (Step 5 - Part 2). You will be asked to apply this in the Apply element of Module 3.

Responding to Change and Building for the Future

The Resource Based View of Change - Step 6

Here we look at how a business can respond to change in a superior manner to the competition by building on top of its unique set of strengths. This is referred to as the Resource Based View of Change (Step 6). This highlights that because no two businesses are alike, no two businesses should respond in the same way to a change in the General Layer.  Complete the corresponding Interactive Worksheet to apply the concepts to your own business. 

Corporate Strategy

The Sweet Spot of Opportunity - Step 7

As well as using our understanding of how to deal with change by building on top of what the business is good at, a business should also use this understanding to identify new markets where it can also succeed based upon its core underlying set of strengths. Identifying where to compete in terms of new products / services and geographical markets is the Corporate Strategy and it is Step 7.  Complete the corresponding Interactive Worksheet to apply the concepts to your own business. 

A New Platform for Collaboration

When this step-by-step approach to developing strategy is shared throughout a business it allows a wide range of individuals with different skill sets to work together to develop the best strategies possible. Once you have watched this video please move onto the Apply element of Module 3.