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Developing Your Strategy

Module Introduction

Welcome to the module Developing Your Business Strategy, part of the EduGrowth Entrepreneurship programme.

The purpose of this module is to help you acquire the knowledge, skills and understanding needed to build an effective business strategy.

It will help you understand what a business strategy is, its significance in making your business a success and to enable you to write your own business strategy.

You will also learn what is different between your business strategy and your business plan and how they interface with one another in order to make your business a success.

Creating, and continuing to develop, your business strategy will be an essential component of the process of succeeding with your business and also ensuring your business’s future sustainability and growth.

‘The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking any risks”. Mark Zuckerberg
Key Topics in this Module
  • What is a New Business Strategy and why is it important for the success of your business?
  • Developing a Mission and Vision for your business
  • Understanding your competitors
  • How to get a competitive edge
  • Managing risks and contingency planning
  • Putting your business strategy together

  • Learning Outcomes

    Upon completion of this module you will:

  • Understand what is meant by strategy and its importance for the success of your business
  • Be able to create a Vision and Mission for your business
  • Be able to analyse the competitors of your business
  • Be able to identify competitive advantage
  • Be able to identify risks and establish contingencies
  • Be able to create a strategy for your business

  • Assessment

    Throughout each section of the module there are activities to check your understanding of the information provided, the skills you have developed and to reinforce your learning. These activities are related to your business so they will help you to improve practice.

    Associated Modules

    Depending on your individual requirements you may find it useful to study this module alongside

    Module 1 Assessing Your Business Idea

    Module 2 Planning Your New Business

    Module 4 Developing Innovation and Creativity

    Module 5 Managing Finances

    Module 7 Marketing Your Business

    Module 12 Researching Your Market

    Module 8 Building a Brand

    Watch the video below where we discuss strategy with entrepreneur, Kieran Miles.