SFU-004 - Module 1 (Chapters)

Natalie Pinnell Business Strategist

Hello, and welcome, I’m Natalie Pinnell, a Business Strategist, and I’m your industry expert guiding you through this Springpod For Universities Online Career Readiness Experience, in association with The University of Liverpool. As somebody that has worked in this field for a long time, I’m really excited to invite you to and encourage you through an opportunity that could seriously boost your career prospects. Throughout this experience, you’ll be provided with a deep dive into the Business Industry, learn about what it means to work as a Business Strategist, and get hands on experience with the hard skill of creating ‘Business Model Innovation’. I’d like to say this - I wish I’d had such an opportunity back when I was studying! Being competent in Business Model Innovation will give you a real competitive edge - after all, hard skills are the currency of today’s data-driven workplaces. Employers are on the lookout for candidates who not only understand the fundamentals, but can also walk into a job on day one ready to contribute meaningfully. By completing experiences such as this, you’re one step closer to being that candidate. In addition, we’ll be focusing on the all-important soft skill of ‘Communication’. Effective communication underpins success in every single career, whether it’s presenting to stakeholders or liaising with multidisciplinary teams. So, this is a great chance to give your communication skills a boost. You’ll get the chance to complete industry-validated, work-based activities that mimic real-world tasks, complete with learning objectives, model answers, and learning outcomes. By the end of the experience, you’ll earn a certificate of completion - a valuable addition to your CV that shows employers you’re not just another graduate, but a job-ready candidate who stands out. Speaking from personal experience, the blend of these technical skills and interpersonal insights can set you apart from the rest. When I started out, I had to learn many of these lessons on the job. This experience gives you the advantage of developing them before even stepping into the workplace. I’m really looking forward to seeing where your Business Strategy journey takes you, and guiding you along the way! Warm regards,

Start

Let's start with the basics of the Business Analysis Industry. In the next four chapters, we'll explore the key areas and roles you can pursue within this field, along with the latest industry trends. Be sure to take notes as there's a quiz at the end!

Shaping your future

Hard Skill: Business Model Innovation

Chapter 3

What is a Business Strategist?

Chapter 2

Business Industry

Chapter 1

What we'll cover...

Index

Chapter 1

Conclusion

What are the current trends?

What job roles can I pursue?

The Business Analysis Industry is a vast and dynamic sector that encompasses a wide range of disciplines aimed at driving organisational growth, improving efficiency, and achieving strategic goals. It involves understanding market trends, managing resources, innovating processes, and maintaining competitive advantages. Here is an overview of the business industry, including its key areas, roles, and trends.

What are the key areas of this industry?

Business Industry

Key areas

International Business

Entrepreneurship and Innovation

Information Technology (IT)

Human Resources (HR)

Operations Management

Finance and Accounting

Marketing

Strategic Management

Chapter 1

What are the key areas of the Business Industry?

Provides expert advice to businesses on strategy, operations, and other key areas.

Plans, executes, and closes projects, ensuring they meet deadlines and budgets.

Manages the end-to-end supply chain to optimise efficiency and reduce costs.

Starts and manages new business ventures, focusing on innovation and growth.

Manages recruitment, employee relations, and organisational development.

Oversees the implementation and maintenance of technology systems.

Ensures efficient production and delivery of goods and services.

Analyses financial data to guide investment decisions and financial planning.

Oversees marketing strategies to drive brand awareness and sales growth.

Consultant

Project Manager

Supply Chain Manager:

IT Manager

Entrepreneur

Human Resources Manager

Operations Manager

Financial Analyst

Marketing Manager

Business Analyst

Identifies business needs and develops solutions to improve business processes and systems.

job roles

Chapter 1

Click the job roles to reveal more info!

What job roles can I pursue in the Business Industry?

Current trends

Chapter 1

Regulatory Compliance

Globalisation

Agile Methodologies

Customer Experience (CX)

Data-Driven Decision Making

Remote Work and Flexibility

Sustainability and Corporate Social Responsibility (CSR)

Digital Transformation

What are the current trends in the Business Industry?

The Business Analysis Industry is an ever-evolving field that offers diverse opportunities for individuals to contribute to organisational success and innovation. With a focus on strategic planning, efficient operations, and customer satisfaction, the industry continues to adapt to technological advancements and changing market conditions. Aspiring business professionals can pursue various roles across different areas, leveraging their skills to drive growth and achieve business objectives in a dynamic and competitive landscape.

Conclusion

Chapter 1

So, in conclusion…?

Start

Hard Skill: Business Model Innovation

Chapter 3

What is a Business Strategist?

Chapter 2

Business Analysis Industry

Chapter 1

Summary

What we'll cover...

What career path and education is ideal?

What are the skills and tools needed?

What are the key responsibilities?

Great job on completing chapter one! In chapter two, we'll dive into a career as a Business Strategist, exploring the role in detail.

What is a Business Strategist?

Business Strategist

Index

Chapter 2

A Business Strategist is a professional responsible for developing and implementing strategies to help organisations achieve their long-term goals and objectives. This role involves analysing market trends, competitive landscapes, and internal business data to formulate plans that drive growth and profitability, improve employee and customer experience and improve overall performance. Here is a detailed overview of what a Business Strategist is and what they do: Business Strategists focus on guiding an organisation to realise the company's vision and mission. They leverage deep insights into customers, markets and internal capability to formulate and execute plans that generate new value for customers and the organisation. Examples include entering new markets, product innovations, organisational redesign, acquisitions and more. Their goal is to provide insights and strategic direction that enhance business performance, identify opportunities, and support decision-making processes. In a competitive business environment, Business Strategists play a crucial role in helping organisations stay ahead of the curve. Effective business strategies can lead to improved efficiency, increased profitability, and better positioning in the market.

What is a Business Strategist?

Chapter 2

What is a Business Strategist?

Key responsibilities

Continuous Improvement

Collaboration and Communication

Performance Monitoring

Implementation and Execution

Strategy Development

Market Research and Analysis

Chapter 2

What are the key responsibilities of a Business Strategist?

COMMON TOOLS

KEY SKILLS

Leadership

Key SKILLS & TOOLS

Chapter 2

Visualisation Tools

Project Management Tools

Data Analysis Tools

Strategic Planning Tools

Communication

Problem-Solving

Analytical Skills

Strategic Thinking

What are the skills and tools needed to be a Business Strategist?

Chapter 2

Entry-level roles such as Business Analyst or Marketing Analyst can lead to positions like Business Strategist, Strategy Manager, or Director of Strategy. Advanced career options include Chief Strategy Officer (CSO) or executive leadership roles.

Business Strategists often have degrees in fields such as business administration, economics, marketing, or related areas. Many also pursue MBAs or other advanced degrees to deepen their strategic expertise.

Career Progression:

Educational Background:

career path & education

What career path and education is ideal for becoming a Business Strategist?

A Business Strategist plays a pivotal role in helping organisations achieve their long-term goals through strategic planning and execution. By focusing on market research, strategy development, and performance monitoring, they provide valuable insights and direction that drive business growth and success. The work of a Business Strategist spans from initial data collection and analysis to creating and implementing detailed strategic plans, requiring a combination of analytical, strategic, and leadership skills.

summary

Chapter 2

So, in summary…?

Start

Hard Skill: Business Model Innovation

Chapter 3

What is a Business Intelligence Analyst?

Chapter 2

Business Analysis Industry

Chapter 1

Continuous innovation to maintain competitive advantage

What we'll cover...

Applying innovative business models for strategic decisions

Tools to facilitate business model innovation

Methods and frameworks for business model innovation

Business Model Innovation is a crucial hard skill for Business Strategists, enabling them to develop, analyse, and implement new and unique business models that drive growth and competitive advantage. This skill is essential for creating strategies that enhance a company's value proposition, customer engagement, and overall market position.

Comprehensive understanding of the existing business model

Hard Skill: Business Model Innovation

Index

Chapter 3

To develop innovative business models, Business Strategists employ various methods and frameworks. This process involves recognising unmet customer needs, market gaps, and emerging trends. Strategists focus on creating unique value propositions that address these needs, defining specific customer segments, establishing new revenue streams, and optimising cost structures to enhance profitability. These steps are crucial for ensuring that the new business model is viable and sustainable.

Methods and Frameworks for Business Model Innovation: Business Strategists use various tools to facilitate business model innovation, each offering unique features to aid in the design and analysis process. Common tools include the Business Model Canvas, a visual framework that helps in mapping out and designing new business models; SWOT Analysis, which identifies strengths, weaknesses, opportunities, and threats related to the business model; Blue Ocean Strategy, a methodology for creating new market spaces and making the competition irrelevant; and the Value Proposition Canvas, a tool for designing products and services that meet customer needs effectively. These tools provide structured approaches to innovation, making the process more efficient and effective.

Comprehensive Understanding of the Existing Business Model:The initial step in business model innovation involves comprehensively understanding the existing business model. Business Strategists must analyse the current value proposition, customer segments, revenue streams, and cost structures. This analysis helps identify areas of improvement and potential innovation. By thoroughly understanding the existing business model, strategists can pinpoint inefficiencies and uncover opportunities for transformation.

Hard Skill: Business Model Innovation

Chapter 3

For example, a Business Strategist might use the Business Model Canvas to design a new subscription-based service that targets millennials, creating a compelling value proposition and identifying effective channels to reach and engage these customers.

Continuous Innovation to Maintain Competitive Edge: Business model innovation is a collaborative process that involves working with various stakeholders within the organisation. Business Strategists collaborate with product managers, marketing teams, finance departments, and other relevant teams to ensure everyone is aligned with the new business model. Presenting a well-designed business model can help stakeholders understand the strategic direction and contribute to more informed decision-making. Effective communication and collaboration are essential for the successful implementation of innovative business models.As market conditions and customer preferences evolve, Business Strategists must continuously innovate and update their business models. This ongoing process ensures that the business model remains relevant and competitive. Regular updates and validation of the business model help maintain the company’s competitive edge and drive sustained growth. Continuous improvement is a key aspect of business model innovation, enabling businesses to adapt and thrive in dynamic environments.

Applying Innovative Business Models for Strategic Decisions: Once innovative business models are developed, Business Strategists apply them to guide strategic decision-making and implementation efforts. This application involves prototyping and testing the new business model in the market to gather feedback, iterating and refining the model based on this feedback, and implementing necessary changes to business operations, marketing strategies, and customer engagement approaches.

Hard Skill: Business Model Innovation

Chapter 3

In summary, Business Model Innovation is a fundamental hard skill for Business Strategists that involves meticulous planning, understanding of market dynamics, and use of specialised tools. By developing innovative and effective business models, Business Strategists can provide actionable insights that drive business growth, enhance competitive advantage, and ensure long-term success. This skill is essential for anyone looking to make a significant impact in the field of business strategy.

Hard Skill: Business Model Innovation

Chapter 3

Hard Skill: Business Model Innovation

What is a Business Intelligence Analyst?

Business Analysis Industry

Start

Start

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Chapter 3

Chapter 2

Chapter 1

Well done! You have completed module 1.

That's a wrap!

MS Project, Asana, Trello.

Gathering Data: Collecting data from various sources such as market reports, competitor analysis, and customer feedback.Trend Analysis: Analysing market trends and identifying emerging opportunities and threats.

Market Research and Analysis

Reliance on data analytics to inform business strategies and operations.Use of big data and business intelligence tools to gain competitive insights.

Leadership skills to drive strategic initiatives and influence others.

Focus on enhancing customer satisfaction and loyalty.Implementation of customer journey mapping and personalised marketing.

• Focus: Implementing and managing technology solutions to support business objectives.
• Applications: Network management, cybersecurity, software development.
• Tools: SQL, Java, Python, cloud computing platforms.

Information Technology (IT)

Business Planning: Developing long-term business plans and strategies to achieve organisational goals.Competitive Analysis: Assessing the competitive landscape to identify strengths, weaknesses, opportunities, and threats (SWOT analysis).

Strategy Development

Ability to think long-term and develop comprehensive strategies.

Working with Stakeholders: Collaborating with executives, managers, and other stakeholders to understand business needs and align strategies.Presenting Strategies: Communicating strategic plans and recommendations to stakeholders through presentations and reports.

Collaboration and Communication

• Focus: Conducting business across national borders.
• Applications: Global trade, cross-cultural management, international marketing.
• Tools: International trade databases, foreign exchange tools, global ERP systems.

International Business

• Focus: Promoting and selling products or services.
• Applications: Market research, branding, advertising, digital marketing.
• Tools: Google Analytics, CRM software, social media platforms, SEO tools.

Marketing

PowerPoint, Tableau, Power BI.

Feedback Loops: Incorporating feedback from stakeholders and market changes to refine strategies.Staying Updated: Keeping up with industry trends and advancements in strategic planning tools and techniques.

Continuous Improvement

Effective communication skills for presenting strategies to diverse stakeholders.

Adoption of Agile practices for project management and product development.Emphasis on iterative processes, continuous feedback, and rapid adaptation.

• Focus: Managing employee relations and organisational culture.
• Applications: Recruitment, performance management, training and development.
• Tools: HRIS, talent management systems, payroll software.

Human Resources (HR)

Increased focus on adhering to industry regulations and standards.Implementation of compliance frameworks and risk management strategies.

SWOT Analysis, PESTLE Analysis, Balanced Scorecard.

Expansion of businesses into international markets.Navigating cross-cultural differences and global economic shifts.

Excel, SPSS, R.

Action Plans: Creating detailed action plans to implement strategic initiatives.Resource Allocation: Ensuring optimal allocation of resources to execute strategies effectively.

Implementation and Execution

Increasing adoption of digital technologies to enhance business operations.Integration of AI, machine learning, and automation in various business processes.

• Focus: Managing financial resources, budgeting, and financial reporting.
• Applications: Financial analysis, investment management, auditing, tax planning.
• Tools: Excel, QuickBooks, SAP, financial modelling software.

Finance and Accounting

Strong analytical skills to interpret data and identify key insights.

• Focus: Long-term planning and overall direction of the company.
• Applications: Corporate strategy, competitive analysis, business model innovation.
• Tools: SWOT analysis, PESTLE analysis, Balanced Scorecard, Porter's Five Forces.

Strategic Management

Growing emphasis on sustainable practices and ethical business operations.Companies adopting green technologies and transparent CSR policies.

KPIs and Metrics: Establishing key performance indicators (KPIs) to track the success of strategic initiatives.Progress Review: Monitoring progress and making adjustments to strategies as needed.

Performance Monitoring

• Focus: Developing new business ventures and innovative solutions.
• Applications: Start-up development, product innovation, venture capital.
• Tools: Business incubators, prototyping tools, innovation frameworks.

Entrepreneurship and Innovation

Excellent problem-solving skills to address business challenges.

Shift towards remote work models and flexible working arrangements.Utilisation of collaboration tools like Zoom, Slack, and Microsoft Teams.

• Focus: Overseeing day-to-day operations to ensure efficiency and quality.
• Applications: Supply chain management, logistics, production planning.
• Tools: ERP systems, inventory management software, Lean Six Sigma.

Operations Management