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. 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.

A brilliant strategy can earn your company recognition as a serious competitor, but your company will only retain that position if your strategy is successfully executed. Many articles have been published about the success of implementing and executing a corporate strategy, and it is the case that many organizations fail to get what they want out of their strategic plan. The biggest hurdle is said to be transforming that great strategy into great performance – in other words, strategy execution: making the strategy work. Effective leaders are aware of these hurdles and understand that you need much more than a great strategy to be successful. It is about bridging the gap between theory and practice and the ability to make every employee aware of the right way of working as well as overcoming emotional barriers.

During this program, you will acquire agile strategy formulation tools. 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. Moreover, you will learn how to execute a strategy more effectively. You will learn to identify pitfalls, manage emotional resistance, recognize opportunities for change, employ influencing techniques, and build the capabilities to implement a strategy successfully.

• Learn to formulate a business (unit) strategy that suits the needs and visions of your organization
• Understand the concept of corporate strategy and why a strong strategy is essential for a company’s success
• Understand the role of different stakeholders
• Apply strategy formulation methods and frameworks
• Learn how to implement a strategy successfully
• Learn how to manage change and overcome (emotional) resistance to change resistance to change

Certificate

You will receive a WHU Executive Education Certificate after successfully completing 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
• Professionals who have recently made a transition from a functional level to a general management level
• Professionals who are contributing to company performance, e.g. heads of business units, managers of departments, or leaders of project teams

The minimum number of participants for this program is 12.