Strategy for Directors

Strategy for Directors is part of the IoD Certificate in company direction programme, which can either be completed as a single module or as the full company direction programme. The module provides directors and executives the chance to evaluate and identify the key ideas and processes for managing marketing strategies for the organisation. The course provides delegates with critical elements of the strategic process and facilitates their exploration and practice.

Explore the relationship between strategy, governance and risk and learn how to use tools and frameworks that support strategic thinking and decision-making. Get the practical insights into how to deliver your current business objectives while future-proofing your organisation.

Overview

Module Syllabus

Module aim:

To enable delegates to gain an understanding of the key competencies required to create, implement and evaluate an organisational strategy and to provide opportunities to develop and practice some of these competencies.

Section 1 – Strategy and the Board

Aim: This section considers the role of the director and the board in creating, shaping and safeguarding the organisation’s strategy in order to create long-term value and fulfil its purpose.

• Explain the importance of organisational purpose in the development and appraisal of strategy
• Explain the role of organisational values and brand in strategic decisions
• Analyse the role of strategy in value creation and its relationship with risk
• Describe the ingredients of effective strategic thinking and explain their link with the strategy process

Section 2 – Strategic analysis

Aim: This section discusses approaches and models used in conducting a strategic analysis to gain a comprehensive picture of the organisation’s current position and the strategic challenges it faces.

• Conduct an appraisal of the macro-external trends and assess their potential impact
• Carry out an analysis of a market or industry to reveal areas of possible strategic opportunity or threat n
• Evaluate an organisation’s capabilities to reveal relative strengths and vulnerabilities
• Integrate the outputs of analytical strategy models to achieve a holistic understanding of the organisation’s position and its strategic challenges
• Section 3 – Strategic choice

Aim: This section looks at methods and processes for identifying strategic content and options and making strategic choices around a cohesive strategy, considering the potential implications for the organisation.

• Translate a strategic gap into strategic objectives
• Use strategic concepts and models to generate, evaluate and assess strategic options
• Consider the nature of different stakeholder views and evaluate the implications for strategic choice
• Contribute to informed strategic decision-making that leads to a cohesive strategy, having considered the limitations of the data and the potential consequences of the decision

Section 4 – Strategy Implementation

Aim: This section considers the factors and processes involved in committing to and implementing strategy, monitoring progress and assessing its effectiveness.

• Translate organisational strategy into sub-strategies/functional strategies
• Consider the organisational conditions which have a bearing on the potential success of a strategy
• Describe how to conduct the implementation of a strategy and evaluate the potential ramifications Capability gap analysis. Sources, internal and external
• Explain how to track strategic progress and identify the benefits of review and reflection
• Test the quality of an organisation’s strategy

Examination Fees

End of course exams are optional- examination fees are not included in the course fees. They are payable direct to the 'Institute of Directors' when registering for the assessment examination. Please note that you must register for examinations by the first day of the month preceding the month in which the examination falls. Examination registration forms are available at www.iod.com

Learning outcomes

By attending this course you will gain the knowledge and skills to:

• Describe the ingredients of effective strategic thinking and explain their link with the strategy process
• Carry out an analysis of a market or industry to reveal areas of possible strategic opportunity of threat
• Evaluate an organisation’s capabilities to reveal relative strengths and capabilities
• Use strategic concepts and models to generate, evaluate and assess strategic options
• Describe how to conduct the implementation of a strategy and evaluate the potential ramifications