Learnings

 Learnt how to evaluate a current company functional, business, and corporate level
strategies
A business strategy is a detailed outline that integrates a company’s policies goals and actions
that aim to offer a value to customers while retaining their competitive benefits. We can get
more business knowledge and will understand well-established, trusted business methods
with the skills you acquire in business management. The benefits of studying business
management help new entrepreneurs because it helps people with less experience to deal with
the common challenges of starting up a business.

The corporate strategy defines a company's markets and businesses. The Corporate Strategy
is the set of strategic options for an organisation which simultaneously manages its activities
in several sectors and markets. Corporate strategies translate into more concrete measures.
Basically, the tasks and actions need to implement business strategy are defines the company
strategies. The corporate strategy is about the growth and profitability of a company. The
strategy thus decides the companies that an organisation competes in and the structure and
management of the business units, to improve the competitive position of a company.

A strategy at the functional level is directly linked to operational decision making, which is
also known as tactical decisions. These tactical decisions are applied in different areas of
function like marketing, production, research and development, human resources, finance,
logistics, etc. These strategies identify the results to ensure that specific departments or
business functions achieve their daily activities. For an organization's existence, the role of
the functional strategy is very important. The functional strategy supports the overall business
strategy and explains how functional managers achieve their set goals and goals.

 Learnt how to assess and choose the best strategic options using techniques such as
PESTEL analysis
PESTLE analyses are a Political, Economic, Social, Technological, Environment and Legal
Analysing the six categories, the strategic planning process shall be more precise and offer
several different perspectives to be monitored in the company's development of strategy. A
PESTLE analysis is frequently used as an extensive informative activity. It helps an
organisation identify external factors that can influence decision-making within the
organisation. By understanding these external factors, opportunities can be maximised and
threats to the organisation can be minimised. Often it provides important information on
environmental evaluation and development in and outside companies, and it identifies
possible opportunities and threats to be addressed by strategic decisions. Strategic analyses
enable us to assess the situation at the start, assess the situation within and outside the
company and identify the environmental changes factors. If a decision is to be prepared as
part of strategic decision-making in time and effectively in the future, it should be based on
antiziping changes in our environment.

 Learnt how It assists in staying current on the most recent business growth strategies
as well as the most recent tools for strategic planning models.

 Understand the fundamental concepts and principles of strategic management and

analyse the business's internal and external environment.
Strategic management principles encompass a diverse set of policies, guidelines, and best
practises for strategic management. Strategic management based on these principles yields
better results, faster growth, and a strong market position. The strategic choice principle
refers to the use of such criteria for the selection of strategies that determine the company's
overall economic efficiency. Principle of responses in exceptional circumstances -
minimisation of losses in critical circumstances, creation of legal and economic security,
exemption management. The principle of gathering information about competitors and allies -
the development of a monitoring system in various areas of strategic management. The
creativity principle – the creation of the company's own market concept, an active
environmental impact. Some leadership teams can benefit from the value of guiding
principles when they plan and implement their strategic management process Concentrate on
the most important thing. Setting priorities is an important step towards your strategic goals.

 Understand How the process of strategic analysis helps decision makers to analyse
thoroughly and to identify optimum strategic alternatives
Strategic analysis plays an important role in strategic decision-making. The report often
provides important information for environmental assessment and development within and
outside the company and identifies potential opportunities and threats to be considered in
strategic decision planning. Strategic analysis. The organisations should also conduct
competition analysis and take external factors into account when carrying out strategic
analysis. This helps them to stay on the market as a great player and gain a competitive edge.
The prediction of future events and the deduction of alternative strategy are among the most
important aspects of the strategic analyses when Plan A does not function as intended. For the
purposes of internal analysis, such strategic decisions provide a very clear picture to any
organisation.