EM|Upper-Int|1. Business strategy
Let’s get acquainted! Here are Emma, Max and John. They have different jobs, but they know a lot about management. Today, they are discussing business strategies.
Read the conversation and complete the sentence
Emma John Max
E: What is a business strategy? I understand it as the course of action or set of decisions which help managers to achieve specific business objectives.
J: I think it’s a combination of proactive actions on the part of management to secure a position in the market, please customers and achieve the goals of the company.
M: For me, it is the long-range sketch of the desired image, direction and destination of the organisation.
In your own words, explain what a business strategy is
Today, we’re going to find out what a business strategy really is.
To create a proper business strategy, one needs a strategic plan. It is a document that shapes the specific activities you’ll undertake to overcome the challenges you face on the way to your goals.
Choose the correct options
Let’s find out more about the components of a strategic plan.
Complete the definitions by choosing the correct options
Let’s have a look at the example of Starbucks to understand the key components of a strategic plan better!
Match the halves to read about the strategic plan of Starbucks
While a company can be creative in defining its mission and vision, there is a limited number of tactics (or marketing strategies) they can choose from. A right strategy which fits the mission and vision of a company is the key to success. Let’s have a look at some of these strategies!
Do the tasks
10 Marketing strategies
Listen to Emma describing the most common strategies and put them in the order in which they are mentioned
Match each strategy with the situation in which it can be used
Useful words and phrases
Let’s have a look at some useful words and phrases from the audio!
Choose the correct options to complete the definitions
Fill in the gaps with the given words and phrases
Max, Emma and John’s colleagues from the finance department asked them to help make a report about the most famous companies and the strategies they use. Let’s have a look at the report!
Complete the report with the correct strategies
Give examples of implementing the following tactics. Search for the information on the Internet, if necessary
Read the strategic plan and guess what company it belongs to
Marketing strategies, measurements and funding streams are rather fixed points in any business strategic plan. They are strategic tools that are chosen from a range of verified efficient business instruments, and their choice depends on the mission, vision and core values each company decides upon for itself. That’s why it’s important to be able to speculate on what lies behind these three pillars of a business strategic plan.
Now you’ve got a unique chance to think about the three pillars of Tesla.
Write your explanation of the message behind each point of Tesla’s strategic plan
Now it’s your turn to draft a strategic plan.
Read the task and prepare your 2-minute speech
Allow your browser access to your microphone, press the button «Record» and record the speech you have prepared
Choose the correct statements
- What is a strategy?
- What is a strategic plan?
- The Starbucks example
- 10 tactics
- Famous companies
- Guess the company
- Draft a strategy
- Assess your progress