Module 6: Conclusions and the strategic management toolkit

Formulating and Facilitating Corporate Strategy Formulating and Facilitating Corporate Strategy
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Transcript

Well, you've made it. Congratulations, we covered off a huge amount of ground in this course, entire MBA programs are developed around strategic management. So if you feel a little overwhelmed realize that this will take some time to fully sink in. On the other hand, if you believe that you are now a strategy expert, I hate to be the one to pop that bubble to formulating and facilitating strategy takes practice. Hopefully, I've armed you with enough insight to get you started. Whether you think of strategic management as a formal process, or perhaps just as a way of thinking strategically, knowing what it entails can make you a more effective CFO.

Conscious awareness of strategic management principles and how they tie together to create a management process allows you to have a richer, deeper conversation with your colleagues and provides you with another way to provide insight and leadership inside your organization. So I challenge you, can you add more value to your organization? consider making strategic management a part of your value add. So included with the course materials is a strategic management toolkit to help you start tracking your own strategy conversations. The first page includes 20 discussion questions that get at the heart of strategic management. Each question maps back to one of the four phases of strategic management we discussed during this course.

The questions have been phrased in such a way as to make them non threatening and conversational. The second page is your one page strategic plan. It allows you to document all the important elements of strategic planning that we've discussed today. review it periodically and at least updated annually. clarity and strategic management can take years to achieve but if you weren't tracking it, There's no way to evaluate whether strategic management is improving the effectiveness of your organization. So thank you so much for taking this course on strategic management.

Strategic Management is not a topic that you will learn exhaustively in just one hour. It's been a specific interest of mine for well over a decade, and one where my thinking is continually evolving. So I will say the more you seek to learn on this topic, the more you're going to be rewarded with a deeper level of understanding financial leaders are looked upon more often than ever to make a strategic contribution and given their cross functional perspective, are well positioned to offer value. That's all for this course. I'm Blair cook saying don't stop to get to the top when you get the top. Don't stop.

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