Strategy Essentials Part 1: Strategy Formulation

Every company has a strategy, a plan to create value, grow, and expand. A strategy provides coherence and direction to the actions and decisions of a company, making sure everyone is pulling in the same direction and working towards the same goals. Strategies are formulated for the company as a whole as well as for its divisions and subdivisions, and they evolve over the course of a company’s lifecycle.

Strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives, which in turn will achieve the organizational vision. It is about finding out where to go, how to get there, and checking if you are on the right track. And, of course: it’s about turning a vision into money. When taking on a management position, strategy and formulating a strategy become a vital part of the responsibilities of the role.

WHU’s Foundations of Strategy Formulation Program is a fast-paced program providing you with the skills and tools to build and formulate a strong business strategy. By analyzing and discussing the different facets of business strategy formulation, you will create an understanding of the role of a company’s resources, capabilities, and limitations in this process.

We will cover a variety of business strategy topics concerned with a company’s positioning in the context of different markets, industries, and locations. You will acquire agile strategy formulation tools, like lean start-up tools and the Business Model Canvas. 

By explaining the interests of different stakeholders and the relation between different goals, you will understand how value is created and maximized. In addition, the importance of product life cycles and innovation will be explained. 

On completion of this program, you will understand the foundations of strategy formulation, which processes are important for the course of strategic decision-making, and what effect a strategy has on the company’s performance. You will be able to assess current and formulate new strategies. Key concepts such as competitive advantage, value creation, planned versus emerging strategy, and strategic fit will be discussed. 

WHU’s Foundations of Strategy Formulation Program will address the following topics:

  • Strategy formulation on the corporate and business unit level
  • Strategic objectives and strategic goal-setting
  • Different stakeholders and their perspectives
  • Business Model Canvas and the Lean Start-Up

On completion of this program participants will be able to:

  • Formulate a business strategy that suits the needs and visions of your organization
  • Understand the concept of corporate strategy
  • Identify why a strong strategy is essential for a company’s success
  • Apply several strategy formulation methods and tools
  • Optimize current business strategies


Who benefits most from the program?


  • Participants who are responsible for the formulation and implementation of corporate strategy within their company
  • Participants who are in transition into a leadership position
  • Participants who are interested in corporate strategy and strategy formulation
  • Executives who have recently made a transition from a functional level to a general management level.
  • Participants who are involved in strategic decision-making. 



This 3-day program runs at WHU Campus Dusseldorf. 

The program language is English.

Next dates:

  • December 03 - 05, 2018

You will receive a WHU Certificate of Attendance after successfully completing the program.


€2,950 including tuition, session materials, case studies and most meals; excluding accommodation.

An early bird fee of 2,750€ is available for those who apply until 8 weeks before the program starts.

Discount for InPraxi members available.

Discounts do not accumulate.



Please find detailed information on financing options here.




Professor Dr.

Christoph Hienerth

Academic Director Master in Entrepreneurship

Prof. Dr.

Peter Witt

Adjunct Professor WHU - Otto Beisheim School of Management, Chair of Technology and Innovation Management, University of Wuppertal

Yvonne Krack

Marketing Manager Executive Education


Short Facts:

  • Strategy
  • General Management
2018-12-03 / 2018-12-05
Place Düsseldorf
Language English
Price 2.950 €

Scholarships for ambitious women

Are you looking for a new professional development opportunity? We offer two scholarships (25% discount) for visionary women who want to enhance their strategic skills in our Strategy Essentials Part 1: Strategy Formulation Program at WHU! Please send your CV and a letter of motivation to until 8 weeks before the program starts.

Special offer

Book the “Strategy Essentials Part 1: Strategy Formulation” Program and the “Strategy Essentials Part 2: Strategy Execution” Program together and benefit from the reduced fee of €4,995 for both programs.