Introduction
This resource follows on from the resource 7. Business models for enterprise. It helps learners understand how a business strategy describes the details of how the business will be run to deliver the business model and outperform competitors.
Learners explore, in simple terms, how a business strategy describes its internal responses to external factors (the operating environment) and includes decisions about its operations, manufacturing, and finances. The resource also links to the resource 11. Strategic analysis for entrepreneurs.
What's in this resource?
This resource consists of:
- An overview video which can be watched on its own or shown in part to the class to support the lessons. Use the chapters to navigate along the video.
- A student resource which contains key information related to the subject, diagrams, questions and a case study.
- A teacher guide with advise about how to deliver the subjects and suggestions for classroom activities.
Suggested learning outcomes
Learners will be able to:
- explain the purpose of a business strategy and how this contributes to success
- explain how the market and operating environment can influence a strategy
- list key decision areas that a strategy might include.
Topics covered
- Enterprise
- Skills for employability, teamworking, and project management
- Commercial principles in engineering