What is Business Strategy: Certification, Courses, Career, Admissions 2025

Today's successful companies have one thing in common: a successful business strategy that allows them to plan the methods that will lead to growth properly. Having a well-defined business strategy and executing it effectively is key to achieving goals and ensuring the success of a business.

But what does having a business strategy mean?

Having the right business strategy is more than planning; it is developing a business model that guides the company towards its objectives and recognizing its strengths and weaknesses. A business strategy is key to becoming a market leader, innovating and growing solidly.

The below write-up talks about what a business strategy is, some of the types of business strategies that exist and why they are essential for companies.

What is Business Strategy?

A business strategy combines all the decisions and actions the company carries out to achieve business objectives and ensure a competitive position in the market. It is the backbone of the company as it is the roadmap that leads to the desired goals. Any failure in this route can cause the company to get lost in the crowd of its competitors.

The business strategy is part of the business plan, which is again a part of the bigger conceptual structure called the business model. A business model is a conceptual framework that explains how a company works, how it makes money, and how it intends to achieve its goals. A business plan defines those goals, and business strategies focus on what needs to be done to achieve them.

5Ps of Strategy

As Henry Mintzberg, professor of Management at McGill University in Canada, explained in his book "5Ps of Strategy," the term business strategy refers to 5 ideas that can be explained starting with the letter "p":

• Plan: A deliberate course of action for the company to achieve a specific goal 
• Ploy: A maneuver or tactic to defeat a competitor. 
• Pattern: The idea that what was successful in the past can lead to success in the future.
• Position: How an organization relates to its competitive environment.
• Perspective: How a company views itself and the world around it.

In the 1980s, Coca-Cola decided to replace its traditional formula with a better, renewed one. The "New Coke" replaced the traditional product that sought to renew itself and gain market share against Pepsi. However, this move unleashed a wave of discontent among consumers, who perceived that the essence of the product they loved so much had been lost.

The lack of a deep analysis of the market and a disconnection with the expectations of its customers transformed this business decision into an example of what happens when an adequate and well-founded business strategy is not followed. In addition, this case highlights an important aspect: everyone in the organization must understand the business strategy.

Even giants like Coca-Cola have experienced first-hand the effect that ignoring consumer preferences and having a wrong business strategy can go horribly wrong.

Companies can adopt different types of strategies to achieve their goals. Below, we analyze the three types of business strategies according to their focus and characteristics:

1. Corporate Strategy: Corporate strategy focuses on defining the identity and image of the company. It is a long-term business strategy implementation that seeks differentiation and a clear focus on the target. Corporate strategy is long-term in its approach towards the business with attempts at differentiation and a concentrated focus on the target or target population. This strategy is important in setting the values ​​and vision that the company desires to project, enabling it to differentiate itself from competitors and establish its place in the market.

2. Competitive Strategy: Competitive strategy entails a thorough analysis of competitors. It outlines what to sell and how to sell it better than the competition, emphasizing major marketing and product factors. Competitive strategy is necessary for spotting market opportunities, responding to change and trends, and placing the company's product in a salient position.

3. Functional Strategy: Functional strategy is aimed at making every aspect of the company function in harmony and effectiveness, align with the business's overall goals, and maximize resources to attain targeted objectives. Functional strategy aims at maximizing profits and minimizing costs, enhancing processes and operational effectiveness. A successful functional strategy can be the difference between long-term growth and operational issues hindering the company's progress.

The business objective is achieved through the effective execution of different business strategies. While each employee, partner and stakeholder in the company is focused on fulfilling a single business objective, their activities are defined by different business strategies depending on their level in the organization.

Business strategies can be classified into three levels:

Level 1: The corporate level

The corporate level is the highest and broadest level of business strategy. The business plan formulates the blueprints of the tasks and how to accomplish them. It establishes the corporate mission, vision and objectives for everybody.

Level 2: The business unit level

The business unit level is a unit-level strategy that varies for different units in the company. A unit may be various products or channels that operate completely differently. These units formulate strategies to differentiate themselves from others based on competitive strategy and to match their goals with the overall business goal set in the corporate-level strategy.

Level 3: The functional level

Respective departments set functional-level strategies. Departments may include but are not restricted to marketing, sales, operations, finance, etc. These functional-level strategies are limited to the day-to-day actions and decisions required to carry out the unit and corporate-level strategies, maintain relationships between different departments, and meet functional objectives.

While an objective is clearly defined in the business plan, the strategy responds to a series of key components:

• Mission, vision and business objectives: The main goal of a business strategy is to meet the overall objective. It provides the vision and direction of the company with clear instructions on what needs to be done, how it needs to be done, and who is responsible for it.
• Core values: A business strategy also sets out the do's and don'ts, which clears up most of the confusion and gives clear direction to all levels, units and departments.
• SWOT Analysis: A SWOT (strengths, weaknesses, opportunities, and threats) analysis summarises the company's current situation. It is crucial for business strategy, as it represents the current strengths and opportunities you can exploit and the weaknesses and threats you must guard against.
• Operational tactics: Unitary and functional business strategies delve into the operational details of how work needs to be done to make it more effective and efficient, saving time and effort.
• Acquisition and resource allocation plan: The strategy also addresses where and how the necessary resources will be obtained, their allocation and those responsible for managing them.
• Measurement: Without control measures, the viability of a business strategy cannot be properly assessed. A good strategy always includes monitoring the company's results and performance against set objectives.

Business strategy is key to a company's success. Listed below are its main benefits:

• Allows you to know your company better: Business strategies enable leaders to understand their organization better. This includes identifying unique elements that distinguish it and defining clear goals. This knowledge includes differentiators from competitors and short-, medium- and long-term goals.
• Facilitates Planning: An effective business plan is necessary for planning in every area of the business. It allows businesses to have coordinated decision-making and strategic guidance across different departments like marketing, operations, finance, and human resources, to name a few.
  
• Increases Efficiency: Companies can allocate and use resources more effectively by implementing a business strategy. They can manage their financial, human and technological resources more efficiently.
• Helps to Anticipate: Business strategies assist organizations in anticipating and preparing for the unexpected. This applies particularly to product or service management, where proper planning can differentiate help during a crisis.
• Offers a Competitive Advantage: A good business strategy enables companies to optimize their strengths, which provides them with a competitive edge in the market. A business strategy is necessary to differentiate and expand in a more competitive business environment.

• Improved Decision-Making: Business strategy courses educate you on how to examine various business scenarios. You will be trained to collect facts, assess risk, and make intelligent decisions that can result in success.
• Master Market Trends: Businesses rapidly evolve, and customers' requirements continue to shift. By learning business strategy, you will learn to follow market trends, analyze customer behaviors, and modify your business plan accordingly.
• Better Problem-Solving: Every company encounters problems, like financial problems, competition, or shifting customer needs. A strategy course teaches you to think analytically, deconstruct problems, and discover effective solutions.
• Better Leadership Skills: Effective leadership is the key to business success. You will learn to lead teams, communicate effectively, and motivate others to work towards shared goals.
• Competitive Advantage: Most companies have similar products or services. Through a business strategy course, you learn how to differentiate yourself from the competition by developing innovative strategies that appeal to customers.
• Strategic Planning: Prior planning is vital for business success. You learn how to develop clear goals, formulate step-by-step action plans, and monitor your progress to guarantee business growth.
• Risk Management: Any business choice carries a risk. Business strategy courses will instruct you on analyzing risks, anticipating obstacles, and minimizing potential losses.
• Improved Financial Planning: Financial management is a fundamental aspect of conducting business. The courses will enable you to manage budgets, regulate expenditures, and make sound fiscal decisions.

Following are the most popular Business Strategy courses, based on alumni reviews. Explore these reviews to choose the best course in Business Strategy.

1. Certificate of Specialization in Business Strategy – ISB Hyderabad

Course Description: Certificate of Specialization in Business Strategy program equips learners with tools and frameworks to develop effective business strategies. It focuses on making critical decisions, responding to market disruptions, and aligning organizational goals.

Eligibility: Open to graduates and diploma holders

Duration: 30 weeks

Program USPs

✔ Learn to evaluate trade-offs and make strategic decisions
✔ Develop innovative and agile business models
✔ Understand economic principles behind competitive strategy
✔ Align team goals with organizational strategy

2. International Certificate in Strategy and Leadership – Institute of Product Leadership

Course Description: International Certificate in Strategy and Leadership offers hands-on learning through real-world case studies and capstone projects. It focuses on modern leadership strategies, team building, and digital transformation.

Eligibility: No specific eligibility criteria mentioned

Duration: 5 months

Program USPs

✔ Live workshops and faculty sessions
✔ 5 industry capstone projects
✔ Access to toolkits, templates, and learning resources
✔ Unlimited 1:1 mentorship with industry experts
✔ Career coaching, resume building, and interview preparation
✔ Placement assistance and networking opportunities

3. Strategy Formulation and Execution – ISB Hyderabad

Course Description: The Strategy Formulation and Execution program provides a structured approach to crafting and executing business strategies. It helps learners differentiate between short-term tactics and long-term competitive strategy.

Eligibility: Ideal for senior executives, business heads, project managers, and consultants

Duration: Not specified

Program USPs

✔ Learn how competitive and corporate strategies complement each other
✔ Identify market opportunities and threats
✔ Develop a value-based strategy for competitive advantage
✔ Gain insights into effective strategy implementation
✔ Build decision-making skills to navigate industry disruptions

4. Post Graduate Certificate Programme in Strategic Management (CSM) – IIM Nagpur

Course Description: The PG Certificate Programme in Strategic Management covers fundamental and advanced strategic management concepts, including frameworks like PESTEL, Ansoff Matrix, and McKinsey 7S. It focuses on leadership, decision-making, and business model assessment.

Eligibility

• Diploma/Bachelor’s/Master’s degree from a recognized university
• Minimum 3 years of work experience (Non-working candidates can also apply)

Duration: 12 months

Program USPs

✔ Covers key frameworks for strategy formulation and execution
✔ Hands-on experience with design thinking and strategic implementation
✔ Enhances leadership and general management capabilities
✔ Selection process conducted by IIM Nagpur

5. Strategic Management – Great Learning

Course Description: This free short course introduces the basics of strategic management, helping learners understand goal setting, business planning, and corporate strategy.

Eligibility: Open to all learners

Duration: 2 hours

Program USPs

✔ Covers fundamentals of strategy, vision, mission, and values
✔ Introduces corporate strategy, balanced scorecard, and strategic direction
✔ Provides a free certificate upon completion

6. Advanced Business Strategy – Coursera (University of Virginia)

Course Description: This Advanced Business Strategy course helps learners analyze business strategies across industries, time, and international markets. It explores competitive dynamics, market entry strategies, and stakeholder management.

Eligibility: Open to all learners

Duration: 10 hours

Program USPs

✔ Understand competition dynamics and industry disruption strategies
✔ Learn internationalization and market entry strategies
✔ Explore diversification and cross-industry competition
✔ Gain insights into stakeholder engagement and value creation