STRATEGY

Strategy originates in the military, the word STRATEGY is a combination of two words Army and Leading, which means to Lead the Army. Strategy is a process and a set of action plans to outline the vision statement, define the mission statement, and set organizational values ​​to establish strategic goals and corporate, business, and functional objectives to formulate corporate, business, and functional strategies. The organization implements the action plans, allocates resources, performs operational activities, and carries out the strategic decision-making process to achieve the strategies to fulfill the mission to reach the vision and strategic goals and achieve corporate, business, and functional objectives as the desired future.

STRATEGIC FORESIGHT

Strategic foresight is a systematic and process-based practice approach that applies a methodology, using strategic foresight models/frameworks, approaches, methods, techniques, and tools for each step in the strategic foresight process. The steps in the strategic foresight process are highly interactive with each other. The steps in the strategic foresight process are intended to support scenario/scenario planning to create probable, possible, preferable, alternative, and reasonable futures from 3 to 20 years ahead.

BENEFITS OF STRATEGY COMBINES WITH STRATEGIC FORESIGHT

Strategy and foresight were once the same discipline. And they should be again. The immediacy of day-to-day operations can lead to a strategic process that is more about ticking boxes and filling templates, which often end up languishing, unopened, in an inbox. With modern updates and improvements to these combined disciplines, leaders can sharpen their vision for the future, empowering managers to make informed strategic choices and propelling teams towards superior performance. This domain is true strategic foresight: a disciplined and systematic approach to identify where to play, how to win in the future, and how to ensure organizational resiliency in the face of unforeseen disruption. (Amy Webb, Harvard Business Review, 2024)

In a world and conditions that are volatile, uncertain, complex, and ambiguous (VUCA) or turbulent, uncertain, novel, and ambiguous (TUNA) after the COVID-19 pandemic, organizations and companies need strategic foresight as a special leadership and management assistant to implement strategic leadership; guide their organizations and companies to survive and overcome risks and uncertainties. Strategic foresight outcomes help companies plan reasonable strategies, identify and manage strategic issues, and make correct strategic decisions. Strategic foresight and issues management help companies control strategy implementation and detect changes in the strategic management process, strategic foresight and issues management combined with appropriate change management models help companies manage change in the strategic management process, etc.

STRATEGY COMBINED WITH STRATEGIC FORESIGHT AND ISSUES MANAGEMENT TRAINING COURSE

TRAINING METHODOLOGY

DRN highly appreciates and encourages students to prepare to read materials before class and actively participate in class discussions. Interactive instructional methods such as case studies, exercises, and activities will be used throughout the sessions.

PARTICIPANTS

For all members of businesses and organizations’ Organizational Strategy combined with the Strategic Foresight and Issues Management Consulting Project Team, the Strategic Leadership Team training course is held at businesses and organizations’ offices and locations. In addition, students nominated by businesses and organizations to attend the Strategic Foresight training course do not include the Organizational Strategy combined with the Strategic Foresight and Issues Management Consulting Project at businesses and organizations’ offices and locations.

OBJECTIVES OF THE TRAINING COURSE
Understand the strategic foresight foundation, principles, models, frameworks, approaches, methods, tools, and techniques. Apply strategic foresight in improving strategic capabilities; formulate and develop strategies; and understand the process and outcomes of strategic foresight to apply to strategic planning and strategic decision-making. Understand the foundation and issues management process in the process of strategic foresight, strategic planning, strategic management, and strategic decision-making. Learn issues management to support the identification, analysis, and monitoring of strategic issues in the process of the external environment and internal analysis to conduct strategic development and planning. Learn future types, trends, directions, and signals of change during the strategic foresight implementation process; understand scenario/prospect planning methods to know different types of futures; and understand how a strategic foresight project is implemented.

Understand the foundation of organizational strategy, the strategic management process, the foundation of strategic leadership, strategy frameworks and tools, types of strategies, strategic decision-making models, and business models to implement strategy. Understand how corporate governance, organizational culture and values, and organizational design influence strategic planning and implementation.

OUTCOMES OF THE TRAINING COURSE
Apply strategic foresight and issues management; practice strategic foresight and issues management approaches, methods, techniques, and tools. Apply and use strategy frameworks, processes, and tools; apply business models to plan and manage strategy and make strategic decisions; build the future of the organization/company better to accomplish mission and achieve their vision, purpose, strategic goals, and business objectives.

TRAINING COURSE CONTENT AND SCHEDULE

Day I

What is strategic foresight? Systems thinking. The purpose of strategic foresight. What is issues management? Issues management process.

Day II

Principles of strategic foresight. Types of futures. Identify driver forces. Trends and driver forces. Scenario planning techniques. Strategic foresight framework, methodology, approach, process, models, methods, techniques, and tools. Strategic foresight exercises.

Day III

Practice strategic foresight and issues management.

Day IV

What is strategy? What is strategic management? Stakeholder strategies and competitive advantage. Analyze the impact of stakeholders. Analysis strategy framework, building, and implementation. What is leadership? What is strategic leadership? Leadership capabilities. Leadership and management. Important issues in strategic leadership. Strategic leaders. The work of effective strategic leaders. Strategic leadership and style. Critical strategic leadership actions. How to become a strategic leader? Describe the role of vision, mission, and values in organizational strategy. Strategic planning from the top down. Scenario planning. Strategy as a planned emergency: top down and bottom up. Resources allocation process. Make strategic decisions. Two separate decision-making methods. Compare and contrast the roles of corporate, business unit, and functional managers in formulating and implementing strategy. Evaluate the strategic significance of product and customer-oriented vision statements. Explain why ethically aligning a company with its core values is essential for sustainable success. Evaluate top-down strategic planning, scenario planning, and strategy as a planned emergency. External analysis. PESTEL framework.

Day V

Five forces model. The sixth force: the strategic role of complements. Strategic group model. Mapping strategic groups. Internal analysis. Core competencies. VRIO framework. Value chain and strategic operational system. Strategic operational system. Use SWOT analysis to generate details. Identify strategic issues. Competitive advantage and business performance. Accounting profitability. Create shareholder values. The meaning of competitive advantage at the enterprise level. Business models: putting strategy into action. Why, what, who, and how to do business. Popular business models. Strategy formulation. Business unit level strategy: How to compete for advantage? General business strategies. Henry Mintzberg’s 5P model. Boston Consulting Group (BCG) Matrix. Ansoft Matrix. Differentiation strategy. Value drivers. Cost leadership strategy. Best cost strategy. Cost drivers. Corporate-level strategy and the five forces: Benefits and risks. Differentiation strategy: benefits and risks. Cost leadership strategy: benefits and risks.
Blue Ocean Strategy. Differentiation and cost leadership. Business strategy: innovation, entrepreneurs and platforms. Types of innovation. Innovation strategies. Platform strategy. What is a corporate strategy? Corporate strategy process. Corporate strategy: vertical integration and diversification. Strategic alliances. Types of vertical integration. The benefits and risks of vertical integration. When does vertical integration make sense? Company diversification: expansion. Product diversification strategy. Geographic diversification strategy. Product and market diversification strategy. Strategies for getting smaller. Restructuring. Mergers and acquisitions. How do firms achieve growth?

Day VI: Corporate growth strategy. Corporate financial strategy. The company’s parent company strategy. Global strategy: compete around the world. How do MNCs enter foreign markets? International strategy. Multi-domestic strategy. Global standardization strategy. Transnational strategy. Porter’s diamond framework. Practice strategic mapping. Strategy communication. Quality strategies. Strategic options and decision-making. Strategic thinking and strategic planning. gap planning. Contemporary approach to strategic planning. Organizational design: structure, culture, and control. Organizational structure. Strategy and structure. Innovative organization. Organizational culture: values, norms, and artifacts. How to change organizational culture? Strategic control and reward system. Create an organizational control system. Corporate governance and business ethics. Framework for creating shared value. Create shared value. Board of Directors. Other governance mechanisms. Change leadership. Strategy control and measure success. Case studies and recommendations on organizational strategy.

INSTRUCTION LANGUAGES
Vietnamese or English

TRAINER
Dr. Phuoc D. Nguyen

TRAINING METHODS
Participate in classes directly at the Business location

ASSESSMENT
Groups practice strategic foresight, issues management, and organizational strategy; discuss and report outcomes.