The Importance of Strategy

by Vedant Podar and Rishika Gupta

Business Strategy teaches tools to imbibe and grow in a fruitful manner. Simply said it gives direction to targeted efforts and achieve the desired results.

To a student, strategy can help chart out the path to education. Today, education is an investment and each parent and individual invest considerable capital to prepare their child or themselves for the competitive world we work in today.

The schools and colleges we went to shape who we are today. When choosing an educational board in India today, we are spoilt for choice: SSC, CBSE, ICSE, IGCSE, IB and more. Each have differing financial commitments as well. Parents may choose to save up to send their child abroad for international exposure, or the individual may prefer staying close to home to build the career in the place they want to be.

Crafting the education strategy at each stage can help make the most of investments, institutions and individual effort. When applying for colleges, now more and more students opt for career counsellors to guide their decision. A strategy is curated for target scores, essays, testing, schooling and career options.

Similarly, a job search strategy can differentiate successful from unsuccessful applicants. Today it takes more than merit to land your dream job. Networking, attending events, online courses, recommendations, university degree and extra-curriculars are essential to demonstrate leadership capabilities and skillsets necessary to fulfil the role. LinkedIn can be the largest tool at your disposal as you craft connection requests, pitch yourself for the role, and secure recommendation or an interview.

In the world today, we’re spoilt for choice with new roles coming up on a daily basis. As we work with advancing technologies, the scope for new skills and education opportunities arise as well. Today more and more people are opting for a degree in Data Analytics, Information Systems or Computer Engineering. With WorkEx Bootcamp, we look forward to bringing these essential skills from Harvard Business School and in-house courses curated by international faculty.

Just like the concept of strategy plays an important role in the operations of a large corporation, similarly it is essential for entrepreneurs too. A strategy not only forms initial milestones for a startup which it should achieve, but also creates a roadmap – a path which guides how the business should run and the targets it must hit to continue growing, be it in 6 months, 1 year, 5 years and so on. A strategy inherently defines a business and contains a set of values which gives it purpose – essential for an entrepreneur, especially when he/she must work with new individuals who are a part of the team. It gives the company, and everyone working in it, a vision, which guides their actions and decisions.

However, one thing necessary to remember is that for an entrepreneur, a business strategy, though necessary, should not be rigid in nature. The startup ecosystem is constantly evolving and is facing challenges due to changes in the external environment. Pandemics, Technological Disruptions, Political crisis, etc. are all factors which can threaten the life of a startup. In such times, the ability to adapt one’s strategy, and pivot in the times of difficulty, is critical to thrive in the long run. Thus, strategy should be flexible and should be reviewed from time to time to make sure that the entrepreneurial activities being undertaken are in constant alignment with the opportunities present in the external environment.

Come discover the ideal personal and business strategy for you as you explore what your next step should be: as a student, as a professional or as an entrepreneur. WorkEx Bootcamp’s rigorous and accessible course will give you the boost to level up!

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