Introduction to Strategy Management

Conclusion
ST101X_W01_C07

We have come to the end of module one. In this module we asked some fundamental
questions pertaining to strategy. Namely, what indeed is strategy? How does strategy relate
to competitive advantage? How do you characterize a strategic decision? And, what are the
key elements of the strategic management process? We have to pause here, for the
moment, and point out something. Strategy is not rocket science, however, it is also not
something in which you can develop expertise by passively listening or reading. Strategy is
best learned by reflecting on and applying the concepts that we have spoken about so far in
a real industry context. To help you do that, we have an exercise that we want you to
complete before we meet next week. This exercise is set against the context of the airline
industry to which we will refer to intermittently in the subsequent modules. What you will
see here, is a dramatized version of a case study. Here's a company that is planning to enter
the airline industry. What should it be looking for in the industry as well as in the external
environment? What strategic choices or decisions should it take? And, what would be the
implementation challenges, given the choices that the company makes? Go ahead. View
the video, analyze the situation, and tell us your answers. And don't forget to enjoy the
weekend too. See you next week.

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